https://www.taxtmi.com/article/detailed?id=390 The article contends that depreciation on which Fringe Benefit Tax has been paid is not "depreciation actually allowed" under Section 43(6) and therefore should not be deducted from actual cost in computing Written Down Value. It explains that WDV is actual cost less depreciation actually allowed, highlights Explanation 3 and the limited scope of Explanation 6, and relies on established judicial principles that only depreciation yielding a real tax benefit qualifies as "actually allowed." The author argues that depreciation taxed as a fringe benefit can be added back to WDV and illustrates the effect with examples. en-us Fri, 12 Jun 2009 00:00:00 +0530 Mon, 03 Jan 2011 17:31:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=390 The article contends that depreciation on which Fringe Benefit Tax has been paid is not "depreciation actually allowed" under Section 43(6) and therefore should not be deducted from actual cost in computing Written Down Value. It explains that WDV is actual cost less depreciation actually allowed, highlights Explanation 3 and the limited scope of Explanation 6, and relies on established judicial principles that only depreciation yielding a real tax benefit qualifies as "actually allowed." The author argues that depreciation taxed as a fringe benefit can be added back to WDV and illustrates the effect with examples. Articles Income Tax Fri, 12 Jun 2009 00:00:00 +0530 https://www.taxtmi.com/article/detailed?id=390