FBT
This query is : Resolved
22 July 2009
WHAT ABOUT THE FBT PAID FOR THE FIRST QUARTER BY THE COMPANY? WILL IT BE ADJUSTED IN SOMEWAY WITH INCOME TAX OR BE REFUNDED ?
22 July 2009
no it will not adjusted against income tax. u apply for a refund.
22 July 2009
Sorry Mr. Prakash,
It has been decided that it w'ld be adjusted against I.Tax & only for companies in losses it w'ld be refunded.
It has been decided that it w'ld be adjusted against I.Tax & only for companies in losses it w'ld be refunded.
22 July 2009
Yes. I do agree with Mr.Randeep Singh. Advance FBT paid shall be treated as Advance Income Tax Paid.
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