query related to FBT

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19 April 2009 company pay for petrol(which used for company tour purpose).can company that petrol expenses treat as eapense for ticket fare.(if company treat as ticket fare then only 5% part will be subject to FBT otherwise 20% part will be subject to FBT)
pls reply what will be treat as per income tax act.

VINEESH KHANNA

VINEESH KHANNA (Expert)
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19 April 2009 Expenses on Petrol shall be covered under "Repair, Running & Maintenance of Car", as a result value of Fringe Benefit shall be 20%.

Sourabh

Sourabh (Expert)
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20 April 2009 Expenses for petrol can be covered under conveyance and if paid for four wheeler vehicle maintianed by the company than in Repair, running and maintenace of car.

In both cases 20% FBT will be the value.

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