FBT

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

18 April 2011 Dear Experts,

I am undergoing a scrutiny case of a company , where the company has not taken the CAR HIRE charges( local car hire ) under FBT and has not paid FBT tax on the same.

Is the company correct?

Thnx in advance

ca cs shriyans jain

ca cs shriyans jain (Expert)
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19 April 2011 Yes car hire charges was under FBT. So if ur scrutiny case relates to p.Yr when fbt was in existence then u r correct.

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CMA. Subhash Kumar Jha

CMA. Subhash Kumar Jha (Expert)
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19 April 2011 Local Car hire charges denotes.... Local conveyance charges, which was a valid head for FBT, & hence FBT should have been paid on this during the FBT regime.

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CA. Krishna K Neeraj

CA. Krishna K Neeraj (Expert)
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19 April 2011 Car Hire Charges (Local Car Hire)falls within Loacal Coveyance head under Fringe Benefit Tax. Therefore FBT was required to be paid on Car Hire Charges.

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