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FBT under the head repair running( incl. fuel), maintenance

This query is : Resolved 

25 March 2008 Sir please let me clear on this head say if i hav a car which is wholy used for business purpose. What will be the consequences.
If u have any other matter which can give me edge in this topic, plz provide the same.

25 March 2008 petrol exp of car, dep under IT act, insurance , hiring of car etc are covered under this head.

26 March 2008 ANY EXPENDITURE INCURRED IN RELATION TO MAINTENANCE OF CAR FORMS PART OF FBT .IT INCLUDES PETROL ,INSURANCE,DEPRICIATION.




26 March 2008 Sir but since there is no benifit accruing to employee from car, why should employer pay FBT

26 March 2008 because it is deemed benefit .



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