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FBT
I have a question if the director of a company uses money or taken money from business for his personel use will the FBT attracts for that
Replies (4)
FBT is required to be computed for the items listed under the respective section.
monies advanced to director is not covered under the section will not be taxed.
but do check for the applicability of dividend provision u/s 2 (22) (e) of income tax act
Nope it will not attract FBT.
FBT will attract when amount will paid and will depend on nature of expenses.
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