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FBT under the head repair running( incl. fuel), maintenance

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(Querist)
25 March 2008 Sir please let me clear on this head say if i hav a car which is wholy used for business purpose. What will be the consequences.
If u have any other matter which can give me edge in this topic, plz provide the same.
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Jitender

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Jitender (Expert)
25 March 2008 petrol exp of car, dep under IT act, insurance , hiring of car etc are covered under this head.
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CA Saurabh Maheshwari

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CA Saurabh Maheshwari (Expert)
26 March 2008 ANY EXPENDITURE INCURRED IN RELATION TO MAINTENANCE OF CAR FORMS PART OF FBT .IT INCLUDES PETROL ,INSURANCE,DEPRICIATION.
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Ravi Jagetiya(CA Final)

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Ravi Jagetiya(CA Final) (Querist)
26 March 2008 Sir but since there is no benifit accruing to employee from car, why should employer pay FBT
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Jitender

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Jitender (Expert)
26 March 2008 because it is deemed benefit .

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