FBT

This query is : Resolved

CA. Abhilash Krishnan P (Querist)
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19 June 2009 Whether FBT is Applicable on employees cab facility expenditure if so under which head?
What will we Do if the ledger has no segragation on car hired for other travel and for employees pick up and drop? Under which head it is to be taken then?

CA Hemant T Dewani

CA Hemant T Dewani (Expert)
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19 June 2009 under motor car expenditure if employees are picked from home & drop then fbt is not applicable

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CA. Abhilash Krishnan P

CA. Abhilash Krishnan P (Querist)
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19 June 2009 what if the ledger has no segragation regarding the car hired for other travel and pick up and drop from home...
its accounted together in one ledger

Ratan Sharma

Ratan Sharma (Expert)
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19 June 2009 You will have to make the segragation otherwise FBT will be applicable. Even if there is no segragation in ledger just segragate on a seprate register and pay FBT accordingly. There is no need to maintain seprate ledger account.

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CA. Abhilash Krishnan P

CA. Abhilash Krishnan P (Querist)
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19 June 2009 the problem is the company providing cab service only is providing other car hire services for travel related to business,they'll give the bill together,it can be for employees Pick up and drop or for other travel..so as there is no segragation inthe bill itself, how can we segragate it in a seperate register?