advance fbt
This query is : Resolved
preeti sharma
(Querist)
13 March 2009
if a company making payment of advance FBT on the presumption of 130% of total budgeted expenditure and at the time of payment at 15-3-09 whether it is right to consider actual expenditure or tax calculated on presumption basis.
if tax calculated on presumption is above the actual and it short fall for installment purpose can we change our presumption 120% instead of 130%
pls reply the treatment
if tax calculated on presumption is above the actual and it short fall for installment purpose can we change our presumption 120% instead of 130%
pls reply the treatment
VISHAL KUMAR SHAW
(Expert)
13 March 2009
actually we pay FBT on the presumption on the basis of last upto date month actual exp.here for 15.03.09 you may pay on the the actual exp upto feb-09 plus assumption for mrch-09. you may change the %age of presumption but plz check the actual exp incurred upto feb-09
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