FBT ON PARKING OF MOTOR CAR
This query is : Resolved
Om Prakash Singh
(Querist)
03 April 2009
Dear Expert
what is treatment of parking charges paid for motor car. Whether it may be trated as motor car expenses and attract FBT.
what is treatment of parking charges paid for motor car. Whether it may be trated as motor car expenses and attract FBT.
CA. B.SRINIVASULU
(Expert)
03 April 2009
Yes. It should be treated as part of vehicle maintenance and should attract FBT automatically.
03 April 2009
i dont think fbt is attracted
Taranjit Singh
(Expert)
04 April 2009
The act provides this....
(m) repair, running and maintenance of motor cars;
So Parking chargs under running and maintenance will attract FBT.
(m) repair, running and maintenance of motor cars;
So Parking chargs under running and maintenance will attract FBT.
Om Prakash Singh
(Querist)
04 April 2009
Hi Devanshi
What u think about parking charges for motor car
What u think about parking charges for motor car
CA JAIMIN TRIVEDI
(Expert)
04 April 2009
FBT is attracted as any running expenses relating to motor car is included. It will be included in motor car expenses
06 April 2009
i think its not running and maintenance expense... so i dont think fbt will be attracted...
Deepak Ladda
(Expert)
07 April 2009
Yes FBT is attracted as the act says repairs and maintenance & FBT has to be paid
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