FBT already paid
This query is : Resolved
Jayesh Jagetiya
(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.
Aditya Maheshwari
(Expert)
08 July 2009
A notification is expected on the same. Nothing has been provided in the budget
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.
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.
Jayesh Jagetiya
(Querist)
10 July 2009
Can you please provide the copy of circular to jayesh.jagetiya@doshionveolia.com
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