Whether the depreciation on vehicles which are applicable for FBT is to be calculated on Company's Act depreciation or depreciation as per IT act?
Menu
Depreciation on FBT
Replies (3)
FBT is liable on depreciation on vehicles computed as per income tax act and 20% of such depreciation shall be taken into account for the purpose of FBT.
regards,
ratan
Depreciation should be taken as per Income Tax
Depreciation as per Income Tax ACt
Recent Topics :
- GSTR 9 LATE FEE
- Best Online Mock Test Series for CA Inter January
- COST OF IMPROVEMENT
- Pillows and Mattresses
- GST Applicability for Reg. / Un-Reg. Indian custom
- Amended GST Act & Rules
- FAST DS 2026 MAIL QUERY
- Does Anyone need CA Foundation books of May2026 at
- Last day for ITR-U for AY 2023-2024 (FY 2022-2023)
- Sale of shares in indian company by a non resident
Related Topics :
CAclubindia
