to whom Fbt is Applicable whether Partnership firm is audited, wat abt sole prop………?
7 Replies
R.Suresh
(Sr. Executive)
(394 Points)
Replied 07 January 2009
FBT not applicable for Prop. Business.
Syed Tousif Ulla
(Student)
(31 Points)
Replied 07 January 2009
FBT is not Applicable to Individuals,HUF.It is applicable to partnership firms...
Atul Kumar
(CA)
(504 Points)
Replied 13 January 2009
FBT is not Applicable to Individuals but is applicable to partnership firms...
CA. Pushkar Sharma
(Chartered Accountant)
(278 Points)
Replied 14 January 2009
FBT is not applicable to individual.
Shudhanshu Agrawal
(Business)
(2570 Points)
Replied 14 January 2009
According to Section 115W(a)
FBT is applicable to Following entities
1. A Company
2. A Firm
3. AOP, BOI, whether incorporated or not
4. Local Authority
5. every artificial juridical person, not falling within following subsection
(i) person eligible for exemption under section 10(23C)
(ii) registered under Section 12AA
(iii) political party registered under section 29A of the Representation of People Act, 1951
Sumit Jain
(CA)
(4760 Points)
Replied 21 January 2009
According to Section 115W(a)
FBT is applicable to Following entities
1. A Company
2. A Firm
3. AOP, BOI, whether incorporated or not
4. Local Authority
5. every artificial juridical person, not falling within following subsection
(i) person eligible for exemption under section 10(23C)
(ii) registered under Section 12AA
(iii) political party registered under section 29A of the Representation of People Act, 1951
good answer shudhansu
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