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what is the meaning of fbt? tell me diffrent type of fbt
rate? & when it will consider in accounting?
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Answer Posted / k. srinivasa rao
FBT means Fringe Benefit Tax,
FBT payable on Business pramotion, advertisement,vehicle
repairs, depreciation as per i.t act on vehicles, fuel
expenses to vehicles, conveyance & Travelling (For
Construction Business - 5%), Telephone charges.
FBT is payable 20 % of the above.
Fringe benefit tax shown in current libilites.
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