fbt on vehicles

This query is : Resolved 

20 July 2007 For calculation of FBT on Vehicle should insurance on Vehicle be included for A.S. year 2007-08

20 July 2007 Insurance paid on cars only (not all vehicles)falls within the scope of clause (H) of sub-section (2) of section 115WB relating to repair, running and maintenance of motor cars. Accordingly, expenditure by way of insurance taken for cars is liable to FBT.

23 August 2007 it is a controversial issue yet.




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