TAXIMPLICATION
This query is : Resolved
01 September 2008
Sir,
If the company sold the a car which are in use of official work at a 50% of its WDV to its Manager . definetly co. will face loss for that, but tell me any other FBT coverage for sale of tangible assets
If the company sold the a car which are in use of official work at a 50% of its WDV to its Manager . definetly co. will face loss for that, but tell me any other FBT coverage for sale of tangible assets
06 September 2008
1.See the Date of Purchase of Car
2.(completed Years of Car*20%)*Value of car =x
3.Reduce x by value received from employee
4.Balalnce amount will be perquisite in hand of employee
5.There is no question of FBT
6.Taxable in hand of Employee
2.(completed Years of Car*20%)*Value of car =x
3.Reduce x by value received from employee
4.Balalnce amount will be perquisite in hand of employee
5.There is no question of FBT
6.Taxable in hand of Employee
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