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Excess amount of FBT Paid

This query is : Resolved 
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(Querist)
19 June 2008 Sir, In last FY we had paid the excess FBT pls tell the treatment for that in books. Whether that amount should be posted at Expenses account.
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CA Anand Sarda

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CA Anand Sarda (Expert)
19 June 2008 it shown be as assets
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Jaideep

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Jaideep (Querist)
20 June 2008 Can it be written down?
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Chintan Gajjar

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Chintan Gajjar (Expert)
24 June 2008 If Excess paid FBT is refundable you may show as an Asset but in case its non refundable you have to write off the same. The exp. will be disallowed by IT Dept.

Regards,
Chintan
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