FBT on Motor Car which used by Consultant

This query is : Resolved

Mahender Jain (Querist)
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12 March 2009 We Purchased a Motor car in May for about Rs. 600000/-

This car is used by our consultant from May to Jan, and during this period, consultant party give us Rs. 30000/- pm as hiring charges to us and r/m also beard by them.
and Now this car is used by company from Feb,

now, how much amount of Deprication on this car should be taken for FBT.

chetan soni

chetan soni (Expert)
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12 March 2009 For applicability of FBT it is necessary that employer & employee relationship exist.

In your case employer & employee relationship does not exist, so FBT does not come into picture.