CAR INSURANCE LIABLE FOR F.B.T ?

i think it should not be liable to FBT. i also searched books few days ago for the same problem,but i didnt find the word insurance for liability of FBT.

i suppose the reason may be that there is not any deemed employee benefit. as whole insurance amount is paid to third party i.e.insurer. thats why its not liable to FBT.

wht u say?

Hi,

Car insurance is related to the maintenance of motor car and so it liable for FBT.

Regards

Amritansh Agrawal

i also agree with amritansh.

if any expense relating to vehicles , whether it may be maintanace expense or insurance or even depreciation , all the expenses IN RELATION TO VEHICLES are liable to FBT

 yes car insurance is included in FBT...since it is a part of car repair and maint

Yes. As interest on Car Loan is also subject to FBT there seems no reason to exclude insurance expenses.

yes it is liable for fbt

any revenue expenditure in relation to motor car is liable for fbt

I dont think it is liable for FBT I have not found any text such as all revenue expenditure i relation to motor car shall be liable to FBT ..In my view it shouldn't be liable to FBT

Yes no dought in it dear

in section 115 wb 2 h says clearly that every expenditure including depreciation are liable for FBT.

Yes, Car Insurance is liable for FBT

Repairs and Maintenance includes Car Insurance. Hence, it is liable to FBT.

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Hi folks, i would like to add a point here. I have not referred this in the book, but by simple logic we can argue that insurance is not something without which a car would not run. Expenses for REPAIRS, RUNNING and MAINTENANCE are liable for FBT.

Can insurance of a car be called maintenance?

Yes I agree to the point that if insurance of the car, which belongs to the employee, is paid by the employer can attract FBT because it will be an expenditure of the employee borne by the employer.

But if the car belongs to the employer, according to me, cannot be chargeable to FBT.

Law has simply written " repairs, running (including fuel) maintenance of motor cars and the amount of depriciation thereon"

Interpretetion might be different for different users.

I have told my opinion. Please correct me if I am wrong.

Thank you