Query regarding F.B.T

This query is : Resolved

jayaprakash (Querist)
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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

MANAS ROUT

MANAS ROUT (Expert)
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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.

Azmathullah Khan

Azmathullah Khan (Expert)
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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

CA Siddhartha Bhardwaj

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

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