Query regarding F.B.T
This query is : Resolved
18 June 2008
Depreciation on cars is attracted for fbt .whether depreciation is taken as per companies act or income tax act.
18 June 2008
calculated as per Section 32 of the
Income Tax Act’ 1961 will be taken as
Fringe Benefits and taxed here only in
case where depreciation is being claimed
as a deductible expenditure under
section 32 in the computation of taxable
income of the employer
Income Tax Act’ 1961 will be taken as
Fringe Benefits and taxed here only in
case where depreciation is being claimed
as a deductible expenditure under
section 32 in the computation of taxable
income of the employer
18 June 2008
Income Tax Depreciation should be considered
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