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Whether the amount of depreciation on the club building is liable to FBT?

April 26, 2017building club depreciation fbt liable

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Whether the amount of depreciation on the club building is liable to FBT?

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Where the legislature has intended to subject the amount of depreciation on any capital asset to FBT, it has specifically provided for it as in clauses (H) and (I) of sub-section (2) of section 115WB. Therefore, in the absence of any legislative intent to subject the amount of depreciation in respect of the club building to FBT, such depreciation amount is not liable to FBT.