Adjustment of Advance FBT with Advance Tax for AY 2010-11

Last updated: 29 January 2010

Adjustment of Advance FBT with Advance Tax for AY 2010-11 The Central Board of Direct Taxes have decided that any instalment of advance tax paid in respect of fringe benefits for assessment year (AY) 2010-11 shall be treated as advance income tax paid by assessee for AY 2010-11. The assessee can adjust such sum against its advance tax obligation in respect of income for Financial Year (FY) 2009-10. The unadjusted amount, if any, may be claimed as refund in the return of income for AY
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