Fringe Benefit Tax

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K. Viswanathan

K. Viswanathan (Querist)
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26 November 2007 Will Vehicle tax be treated as running and maintenance expenses & subject to FBT?

K. Viswanathan

K. Viswanathan (Querist)
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26 November 2007 What about Vehicle Insurance? Is it subject to FBT or not?

K V Subba Rao

K V Subba Rao (Expert)
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26 November 2007 (1) One-time road tax is not includible for FBT purpose.

(2) Running Expenses include Insurance premium; hence subject to FBT

(Source: Para 3.12 of 2005 edition of the Taxmann's Guide to FBT and BCTX)

K. Viswanathan

K. Viswanathan (Querist)
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27 November 2007 Thank you sir.

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