Whether FBT will be applicable on speed boat owned by a Co. which was earlier used for its business purpose but now being let out on rent occasionally since it is no longer useful for its business purpose.
Sajid Rahman (C.A. Final) (71 Points)
14 March 2009Whether FBT will be applicable on speed boat owned by a Co. which was earlier used for its business purpose but now being let out on rent occasionally since it is no longer useful for its business purpose.
Aakhri Pasta
(Hell Froze Over)
(171 Points)
Replied 17 March 2009
FBT is not leviable on speed boats. It is only applicable on motor cars & Aircrafts.
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