FBT CLARIFICATIONS
This query is : Resolved
27 September 2007
1) WHETHER REIMBURSEMENT OF EXPS. TO AUDITOR TOWARDS LUNCH & SNACKS 1) INSIDE PREMISE OF CLIENT 2) OUTSIDE PREMISE OF CLIENT ATTRACTS FBT ?
2) WHETHER DEPN. ON MOTOR CAR WILL ATTRACT FBT INLY IN 4 TH QUARTER OR HAVE TO BE CONSIDERED EVENLY THROUGHOUT THE YEAR ?
3) HOW THE DEPN. ON CAR WILL HAVE TO CONSIDERED IN CASE OF SALE OF CAR AFTER 180 DAYS
2) WHETHER DEPN. ON MOTOR CAR WILL ATTRACT FBT INLY IN 4 TH QUARTER OR HAVE TO BE CONSIDERED EVENLY THROUGHOUT THE YEAR ?
3) HOW THE DEPN. ON CAR WILL HAVE TO CONSIDERED IN CASE OF SALE OF CAR AFTER 180 DAYS
27 September 2007
Reimbursement of lunch etc. will attact FBT in case where the bills are in the name of Assesse who is having at least one employee.
If you debited depreciation to P & L account then it is liable for FBT
If you debited depreciation to P & L account then it is liable for FBT
Ravikumar.G
(Expert)
27 September 2007
Reimbursement of Expenses will attract FBT.
If you provide any Food Coupens it will come under FBT net (Ex. Sodexo pass like that)
Depreciation on motor car we can condider in last quarter. Because there is no specific provision is provided for depreciation. Income tax depreciation is applicable. Goods vehicle and Two wheelers will not come under FBT Net.
If you provide any Food Coupens it will come under FBT net (Ex. Sodexo pass like that)
Depreciation on motor car we can condider in last quarter. Because there is no specific provision is provided for depreciation. Income tax depreciation is applicable. Goods vehicle and Two wheelers will not come under FBT Net.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- EPF ECR NEW RULES Sep 17th 2026
- Issuing of delivery challan by seller of goods
- Taxation of crypto futures in India Fy 2026- 2027
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
