27 August 2009
Dear friends, I am facing a problem on chargeability of FBT on the amount of Additional Depreciation on commercial vehicle such as Motor cars etc.
1.) Please guide me whether FBT will be charged on the additional depreciation?
2.) Whether additional depreciation will be charged on the Motor Cars (For ex. BMW) purchased after 01.01.2009?
27 August 2009
FBT is applicable on Depreciation upto AY 09-10. Irresoective of addtional depn or normal depn FBT is applicable on the same. Further in my opinion BMW will not form part of commercial vehicle. you can check the defination of commercial vehicle for the purpose of claiming additional depreciation.
CAclubindia
