Fringe Benefit TAx
This query is : Resolved
12 November 2008
Good Eve my professional colleagues,
I want to know the definition of Motor Car in Fringe Benefit Tax, if it is available where can i get it.
Also what are the steps to be taken if FBT not paid relates to AY 2006-07, if penalty payable at what rate for how many days
I want to know the definition of Motor Car in Fringe Benefit Tax, if it is available where can i get it.
Also what are the steps to be taken if FBT not paid relates to AY 2006-07, if penalty payable at what rate for how many days
12 November 2008
It is not there.
Please see 115WG,115WK and 115WL.
Please see 115WG,115WK and 115WL.
12 November 2008
Definition of Motor Car for the purpose of FBT is not defined. However FAQ states that Jeeps are to be excluded.
You can file a revised return including FBT liability and also pay self assessment tax immediately along with interest under Sec. 234B and 234C of the Income tax Act. Rate is 12% p.a.
You can file a revised return including FBT liability and also pay self assessment tax immediately along with interest under Sec. 234B and 234C of the Income tax Act. Rate is 12% p.a.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- Difference between Date of Payment and Date of Deduction?
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- GST Rate for Catering Services
- Bank details not Visible on Traces Portal
- Taxability of Partnership firm for FY 2025-26
- Cash balance limit and property purchases limit
- Can we choose not to report losses in ITR3 if they cannot be carried forward?
- Same demand raised for original as well as rectification request return
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
