FBT
This query is : Resolved
24 September 2009
SIR
A PRATNERSHIP FIRM RUNS A TRAVELS AGENCY AND HAVE 4 CARS. WILL THE FIRM GIVE FBT ON DEP ON CAR AND RUNNINGG EXP?
A PRATNERSHIP FIRM RUNS A TRAVELS AGENCY AND HAVE 4 CARS. WILL THE FIRM GIVE FBT ON DEP ON CAR AND RUNNINGG EXP?
24 September 2009
FBT is abolished
24 September 2009
Hi Sampad,
Partnership firm is a employer for the perpose of FBT ( Sec 115W) and was liable for F.Y. 2008-09.
Now Depreciation on car and runnning expenses will be taxable @ 5 % i nase of Travel Agency ( i.e at Concessional rate instead of full rate of 20% )
Cheers
Sanjay
Partnership firm is a employer for the perpose of FBT ( Sec 115W) and was liable for F.Y. 2008-09.
Now Depreciation on car and runnning expenses will be taxable @ 5 % i nase of Travel Agency ( i.e at Concessional rate instead of full rate of 20% )
Cheers
Sanjay
24 September 2009
Hi Sampad,
As our friend CA Devanshi Gandhi rightly mentioned FBT is not applicable for current F.Y 2009-10 i.e. w.e.f 01.04.2009. I presumed your question was related to last financial year i.e 2008-09.
Cheers
sanjay
As our friend CA Devanshi Gandhi rightly mentioned FBT is not applicable for current F.Y 2009-10 i.e. w.e.f 01.04.2009. I presumed your question was related to last financial year i.e 2008-09.
Cheers
sanjay
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Confusion around Form 26QB fields
- RCM INVOICING FROM NOV-2024
- Tds on building rent monthly
- Should I be worried about and rectify reporting Jan,Feb ,March 2024 foreign salary in schedule FA?
- BUYING PROPERTY COULD NOT FILE 26QB
- Gst input for FY 23-24
- Regarding Waiver of Interest levied u/s 50 of PGST/CGST Act
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
