i would suppourt Mr. Ravindranath's view.......as the quote from finance ministers speech........"However, transport services for workers and staff and canteen services in an office or factory will be outside the tax net................."and as also quoted in _R&B Falcon (A) (P) Ltd., In re [2007] 159 Taxman 228 (AAR-new delhi)_........as "The privelege, serivce, facility or amnenity doesn't include (from assessment yr 07-08) any benefit or amenity in the nature of free or subsidised transport or any such allowance provied b the employer to his employees for journeys by the employees from their residence to the place of work or such plce of work to the place of residence.."
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FBT on Vehicle Hire Charges
As per circular no. 8/2005 dt 29/08/2005 states rent paid or payable for an operating lease of a motor car would be treated as expenditure within scope of clause H of sub-section 2 of section 115WB.
Comapany have to pay FBT on Vehicle hire charges.
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