The maintenance for car exp. is included in FBT, but is the depreciation for car should be taken in that exp.? and how? means it should be taken quarter wise or half yearly? How can the amt. of dep. should be taken in the calculation of maintenance exp. for the purpose of FBT?
6 Replies
CA. Kirti S. Ganatra
(Service)
(1461 Points)
Replied 26 February 2008
Yes Depreciation also parts for FBT and amount should be calculated quarterly basis
M.Sriram Shenoy
(CA Final)
(814 Points)
Replied 26 February 2008
Whenever FBT is calculated quarterly for payment of Advance FBT, depreciation on car should also be calculated quarterly.
O.D.SHARMA
(DGM-F & A)
(1734 Points)
Replied 26 February 2008
quarterly FBT must have Depreciation also.
Neeta Gupta
(83 Points)
Replied 26 February 2008
Yes dep.is to be added qarterly when fbt is calculated and deposited
Narayana Dasari
(CA Student)
(30 Points)
Replied 26 February 2008
Depreciation on car is also to be included while calculating the FBT liability on Quarterly basis
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