CBDT to adjust FBT with advance tax
| By BS Reporter
|
Last Updated: Sat, Jan 30, 2010 01:20 hrs
The Central Board of Direct Taxes (CBDT) will adjust the fringe benefit tax (FBT) paid by companies for 2009-10 against their installment of advance taxes, as it will now treat "advance tax paid in respect of fringe benefits for assessment year 2010-11 as advance income tax paid by assessee," said a circular.
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