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Fringe Benefit TAx

This query is : Resolved 
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(Querist)
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
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S.Srinivasaraghavan

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S.Srinivasaraghavan (Expert)
12 November 2008 It is not there.
Please see 115WG,115WK and 115WL.
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Sanjay

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Sanjay (Expert)
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.
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