CAR INSURANCE LIABLE FOR F.B.T ?

CA CHINTAN AJMERA (Chartered Accountant) (2987 Points)

13 September 2008  

Some author say that car insurance is not liable for F.B.T (E.G. READY RECKNOR, V.K.SINGHANIA , TAXMAN) And some say that it is liable for F.B.T (E.G. G.SAKER PADHUKA )  So how can we decide that it is liable for F.B.T or not ?