FBT on depreciation on car
This query is : Resolved
19 June 2008
Whether depreciation on motor car is deemed fringe benefit?
If yes, hou can we calculate value of fringe benefit? As per Income Tax Act, depreciation of all fixed assets is to be calulated in block method. And, under block method, we cannot find the depreciation of motor car seperately.
Please, any one, give me an answer for this !
If yes, hou can we calculate value of fringe benefit? As per Income Tax Act, depreciation of all fixed assets is to be calulated in block method. And, under block method, we cannot find the depreciation of motor car seperately.
Please, any one, give me an answer for this !
19 June 2008
block method doesnot means to club the assets having same depreciation rate. first we should separate the assets in different blocks like motor cars, vehicles, ... then u should club the 15% block within in each block. like different cars having 15% block. so it will be easy to find out depreciation on motorcars.
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
- About TDS & Income Tax
- Tax on Deemed Capital Gain
- Scrutiny and reopening of past returns
- F & O PROFIT REPORTING FOR AY 2026-27
- Booth for sales promotion
- Type of Capital Gain
- Regarding ITR filing with more value than showing in AIS/TIS
- ASMT-10 received from A O
- Rental income of jointly held property
- Accounting with Claude
- Difff in ais receipts and gst turnover
- ITR-3 File/Error Found
- Exiting partner in partnership firm in gst portal
- Taxability of credit in canara bank ET & T section (NRO)
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
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
