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F.B.T.

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(Querist)
05 May 2009 do we consider depreciation on car while getting to the amount of total expense on which F.B.T. is payable..??
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Manmohan ACA, CS

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Manmohan ACA, CS (Expert)
05 May 2009 No
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jasmine

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jasmine (Expert)
05 May 2009 FBT on depreciation on car is charged separately.
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jasmine

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jasmine (Expert)
05 May 2009 FBT on depreciation on car is charged separately.
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CA Nitin Wadhwani

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CA Nitin Wadhwani (Expert)
05 May 2009 Yes.
Depreciation as per Income Tax Act is to be added while calculating FBT on repairs , running and maintainence of motor cars.

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