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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
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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.

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