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FBT already paid

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(Querist)
08 July 2009 FBT Demolished thrugh Budget: - what about the FBT we have already paid for the F Y 2009-10, whether department will give refund of the same or it will be adjusted against the Income Tax to be paid.
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
08 July 2009 A notification is expected on the same. Nothing has been provided in the budget
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CA.Tarun Maheshwari

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CA.Tarun Maheshwari (Expert)
09 July 2009 I agree. But there are chances that FBT paid shall be treated as Advance Income Tax Paid by the assessee firm or company.
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CA Nitin Wadhwani

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CA Nitin Wadhwani (Expert)
09 July 2009 The Circular has already been issued by CBDT clarifying that it will be adjusted against Income Tax Payable.
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Jayesh Jagetiya

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Jayesh Jagetiya (Querist)
10 July 2009 Can you please provide the copy of circular to jayesh.jagetiya@doshionveolia.com
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