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
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
(Expert)
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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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
(Expert)
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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