Fringe Benefit Tax
This query is : Resolved
K. Viswanathan
(Querist)
26 November 2007
Will Vehicle tax be treated as running and maintenance expenses & subject to FBT?
K. Viswanathan
(Querist)
26 November 2007
What about Vehicle Insurance? Is it subject to FBT or not?
K V Subba Rao
(Expert)
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)
(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
(Querist)
27 November 2007
Thank you sir.
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