FBT
This query is : Resolved
Sandeep Kumar
(Querist)
27 May 2010
FRIENGE BENEFIT TAX SHOWN IN P&L A/C OR TRANSFER TO CAPITAL A/C
Aditya Maheshwari
(Expert)
27 May 2010
FBT scrapped w. e. f. 01.04.2009.
I think u are asking about partnership accounts as FBT not applicable to proprietorship firms.
Both the options can be done.
If shown in P & L A/c then the same will be disallowed in the computation of total income.
If trfd to capital a/c then no claim of expenses. In all effect remains the same on the total income.
I think u are asking about partnership accounts as FBT not applicable to proprietorship firms.
Both the options can be done.
If shown in P & L A/c then the same will be disallowed in the computation of total income.
If trfd to capital a/c then no claim of expenses. In all effect remains the same on the total income.
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