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Query regarding F.B.T

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18 June 2008 Depreciation on cars is attracted for fbt .whether depreciation is taken as per companies act or income tax act.
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CA Hemant T Dewani

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CA Hemant T Dewani (Expert)
18 June 2008 calculated as per Section 32 of the

Income Tax Act’ 1961 will be taken as

Fringe Benefits and taxed here only in

case where depreciation is being claimed

as a deductible expenditure under

section 32 in the computation of taxable

income of the employer
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CA Anand Sarda

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CA Anand Sarda (Expert)
18 June 2008 Income Tax Depreciation should be considered
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