fringe benefit tax
This query is : Resolved
yogesh mahajan
(Querist)
27 September 2009
Dear friends,
I have a query for the Financial Year 2009-10 regarding paymant of F.B.T. for the first quarter of the same F/Y.
Please let me know there is a company which is in the prectice of paying the entire F.B.T. in the end of the year.
In this Financial Year company has not paid any tax till now
(i) whether at the end of the year the company will have to pay any tax for the first quarter.
(ii) Let us suppose that the company has paid F.B.T. then what will be the treatment of the same, ragarding refund or nothing?
I have a query for the Financial Year 2009-10 regarding paymant of F.B.T. for the first quarter of the same F/Y.
Please let me know there is a company which is in the prectice of paying the entire F.B.T. in the end of the year.
In this Financial Year company has not paid any tax till now
(i) whether at the end of the year the company will have to pay any tax for the first quarter.
(ii) Let us suppose that the company has paid F.B.T. then what will be the treatment of the same, ragarding refund or nothing?
CA SANJAY MUKHERJEE
(Expert)
27 September 2009
FBT has been abolished w.e.f 01.04.2009
So
i) No qustion of paying Tax for any qtr.
ii) if already paid,it will be refunded, now industry is expectinf a quick refund machanism, i.e. before the normal refund procedure through return filing
So
i) No qustion of paying Tax for any qtr.
ii) if already paid,it will be refunded, now industry is expectinf a quick refund machanism, i.e. before the normal refund procedure through return filing
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