Nalam Ravindranath
(78 Points)
Replied 09 October 2008
FBT is not applicable to Individuals.
Incase of firms and companies, even if the car is not used by or for the employees the expenses on running,maintenance,( like fuel,insurance,repairs,depreciation, driver's salary, interest on car loan, garage rent, parking rent all such allied expenses relating to ) attract the provisions of FBT
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