Fringe benefit TAx

This query is : Resolved

CA G. SRINIVAS GOUD (Querist)
Follow

16 June 2008 A partner receiving Parners remuneration and Interest on partners capital, that partner incurred expenses like conveyance, telephone charges, Vehicle maintenance for the purpose of business. Whether the above expenses will attract F B T

Satish K Sekhar.ACCA

Satish K Sekhar.ACCA (Expert)
Follow

16 June 2008 FBT is applicable only to companies and not to partnership and sole proprietor ship firms.

CA. PRASAD

CA. PRASAD (Expert)
Follow

17 June 2008 FBT is payable by the Firm if these expenses are debited by the Firm to its Profit & Loss A/c.

Satish K Sekhar.ACCA

Satish K Sekhar.ACCA (Expert)
Follow

19 June 2008 Dear all,

I regret casually answering the question. I understand partnership firms are also liable to pay FBT. Only sole proprietorship firms are excempted from FBT.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

sachidanandam

divakar podaturu

velichety.l.narasimharao

R B Pethe

Krishna seva das

Subscribe Now

Fringe benefit TAx

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA