FBT on Motor Car which used by Consultant
This query is : Resolved
12 March 2009
We Purchased a Motor car in May for about Rs. 600000/-
This car is used by our consultant from May to Jan, and during this period, consultant party give us Rs. 30000/- pm as hiring charges to us and r/m also beard by them.
and Now this car is used by company from Feb,
now, how much amount of Deprication on this car should be taken for FBT.
This car is used by our consultant from May to Jan, and during this period, consultant party give us Rs. 30000/- pm as hiring charges to us and r/m also beard by them.
and Now this car is used by company from Feb,
now, how much amount of Deprication on this car should be taken for FBT.
12 March 2009
For applicability of FBT it is necessary that employer & employee relationship exist.
In your case employer & employee relationship does not exist, so FBT does not come into picture.
In your case employer & employee relationship does not exist, so FBT does not come into picture.
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