F.B.T Querry

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BHAGYESH RAVANGE (Querist)
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15 September 2009 Our party has paid the current year F.B.T with the less amount through Self Assement Challan, while the calculation of F.B.T comes more than that, tell me what to do in such circumstances

CA.Tarun Maheshwari

CA.Tarun Maheshwari (Expert)
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15 September 2009 First of all clear the position of Year. FBT is not applicable from FY 2009-10. So no need to deposit further, and the amount already deposited shall be adjusted with the income tax payable. And if you are talking for FY 2008-09, then deposit the balance FBT again on the self assessment basis. No issue at all in depositing it again.

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