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income tax

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(Querist)
17 September 2008 whether insurance on vehicle is subject to FBT.
if yes please specify the rerevant circular no.
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Jitender

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Jitender (Expert)
18 September 2008 there is no specific circular in this regard.
as per some authors, it is running & maintenance of vehicle cost & some authors does not treat this as liable to fbt.

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