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FBT

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(Querist)
09 October 2009 I have paid for 1st qtr - April 2009- June 2009 amounting rs 15000.00 how can i take refund of this amount or may i treat it as advance income tax.
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CA SANJAY MUKHERJEE

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CA SANJAY MUKHERJEE (Expert)
09 October 2009 No specific notification or circular is there till date how we will adjust the FBT paid or if can claim refund immediately, whether adjustable against tax payable or have to show in Return for the current financial year to get refund, howver there may not be FBT column in return a sthe FBT has already been abolished.
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Ratan Sharma

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Ratan Sharma (Expert)
10 October 2009 As per the circular of CBDT it will be treated as an advance income tax paid. You can claim this amount in your income tax return and adjust the tax liability accordingly.
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CA Suresh Choudhary

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CA Suresh Choudhary (Expert)
10 October 2009 agree with Ratan
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