75th Founding Day Lecture Meeting on “India@2030” Know More

March 2010

Advance Fringe Benefit Tax paid to be treated as advance income tax for the FY 2009-2010 – Press Release No. 402/92/2006-MC (07 of 2010) dated 29 January 2010

By Pinky Shah
Sonalee Godbole
Tarun Ghia
Brijesh Cholera
Pratik Mehta
Gaurang Gandhi
Chartered Accountants
Reading Time 1 mins
fiogf49gjkf0d

New Page 1

39 Advance Fringe Benefit Tax paid to be treated as advance
income tax for the FY 2009-2010 – Press Release No. 402/92/2006-MC (07 of 2010)
dated 29 January 2010


The CBDT has clarified vide the aforementioned Press Release
that advance tax paid in respect of fringe benefits would be treated as advance
income tax and accordingly, can be adjusted against the advance income tax
liability. The additional FBT advance tax if paid, can be claimed as a refund
while filing the tax return.

Download PDF

You May Also Like

Sanction and disbursement of Industrial Promotion Subsidy (IPS) to Mega Projects and Non-Mega Projects under PSI-2001 & PSI-2007, Reconciliation of IPS by Sales Tax Department & Procedure to be followed by the Department.

Implications of non-availability of PAN of the payee with effect from 1 April 2010 – Press Release No.402/92/2006-MC (04 of 2010) dated 20 January 2010