Whether FBT is payable on Interest on Car Loan

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Whether FBT is payable on interest paid on car loan?

Replies (14)

yes FBT is payable on Interest on car loan

agree for the same. FBT is applicable
 

yes

FBT is payable

YES FBT is payable ....go thru CBDT GUIDELINES  there s question on that

FBT is payable on interest on loan taken to purchase car  paid or provided.

yes,it is payable.

Yes it is payable

yes it is liable to fbt

Yes it attracts FBT

CBDT is of the opinion that Interest on Car Loan attract FBT. However, personally I amnot convinced that interest on CAR LOAN is not an expenses in the nature of Repair, running(including fuel), maintanance of MOTOR CAR.

True but it is a perquisite.

yes

 

i agree with Mr.CA. O.P. Agarwalla view...

Yes FBT applicable for Car Loan Intt. Pls go through CBDT guide line


CCI Pro

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