fbt

CA Abhash (Chartered Accountant) (324 Points)

23 June 2007

is fbt also applicable on the insurance amount of vehicles.

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3 Replies

CA. Pradeep Nayak (Not In Practice) (1408 Points)
Replied 23 June 2007

FBT is applicable on insurance amount paid on Motor Cars only & not all vehicles

Rajendra (C.A.) (19 Points)
Replied 23 June 2007

FBT is apllicable to the payments made for insurance premium on MOTOR CARS only u/s. 115 WB (2) (H).

rrchavda (CA Practice ) (14 Points)
Replied 10 August 2007

yes, any expenditure for repair running and maintainance for vehical is liable to fbt

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