hi friends,
for the purpose of calculating FBT on car depriciation charged for the year needs to be taken, right.
my Q is DEPRICIATION should be taken as per INCOME TAX act OR as per COMPANIES ACT.
looking forward for your help
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depriciation for FBT on CAR
Replies (4)
FOR FBT DEPRECIATION AS PER INCOME TAX HAS TO BE TAKEN
Hai
FBT is a part of Income Tax Act, therefore we take only Income Tax Depreciation.
dep on car for FBT purposes tobe taken as per income tax.
Dereciation to be calculated as per Income tax Act
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