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Query regarding F.B.T

This query is : Resolved 
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(Querist)
14 June 2008 If a company owns a car expenditure related to that car is attracted for fbt
but in the case where the company hire a car whether the hire charges & expenditure related ie petrol, maintenance is attracted for F.B.t
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MANAS ROUT

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MANAS ROUT (Expert)
14 June 2008 only owened car are covered under section 115WB 2 (H) , SO EXPENSESE INCURRED IN RELATION TO HIRED CARS OBTAINED BY LEASES ARE NOT COVERED UNDER THIS SECTION.
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Azmathullah Khan

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Azmathullah Khan (Expert)
14 June 2008 Yes, FBT on petrol expenses paid by u, then FBT will be calculated, as the staff is benifitting it,

If the hire charge is incl., of fuels & other charges, then it all exp., will be treated as Hire charges
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
05 April 2012 FBT has been abolished, so this query is not relevant anymore. Query is closed.
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