Concept & history of FBT

CA Deepak Joshi (TaxTalk) (178 Points)

24 January 2010  

I recently came across many articles regarding the changes & abolition of FBT but none was clear enough to give me the background of the story.... So i hv some doubts---

1. Why was FBT introduced in the first place???

2. What was the need to abolish FBT in the current scenario???

3. Is it favourable or vice versa???

Thnx