FBT
This query is : Resolved
sampad mohanty
(Querist)
24 September 2009
SIR
A PRATNERSHIP FIRM RUNS A TRAVELS AGENCY AND HAVE 4 CARS. WILL THE FIRM GIVE FBT ON DEP ON CAR AND RUNNINGG EXP?
A PRATNERSHIP FIRM RUNS A TRAVELS AGENCY AND HAVE 4 CARS. WILL THE FIRM GIVE FBT ON DEP ON CAR AND RUNNINGG EXP?
24 September 2009
FBT is abolished
CA SANJAY MUKHERJEE
(Expert)
24 September 2009
Hi Sampad,
Partnership firm is a employer for the perpose of FBT ( Sec 115W) and was liable for F.Y. 2008-09.
Now Depreciation on car and runnning expenses will be taxable @ 5 % i nase of Travel Agency ( i.e at Concessional rate instead of full rate of 20% )
Cheers
Sanjay
Partnership firm is a employer for the perpose of FBT ( Sec 115W) and was liable for F.Y. 2008-09.
Now Depreciation on car and runnning expenses will be taxable @ 5 % i nase of Travel Agency ( i.e at Concessional rate instead of full rate of 20% )
Cheers
Sanjay
CA SANJAY MUKHERJEE
(Expert)
24 September 2009
Hi Sampad,
As our friend CA Devanshi Gandhi rightly mentioned FBT is not applicable for current F.Y 2009-10 i.e. w.e.f 01.04.2009. I presumed your question was related to last financial year i.e 2008-09.
Cheers
sanjay
As our friend CA Devanshi Gandhi rightly mentioned FBT is not applicable for current F.Y 2009-10 i.e. w.e.f 01.04.2009. I presumed your question was related to last financial year i.e 2008-09.
Cheers
sanjay
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