Re: [aurangabad_ca] Advance FBT paid for the FY:2009-10 is to be treated as advance income-tax paid
Dear Sir,
The post budget memorandum gives a Suggestion "It is suggested that such advance FBT paid should be treated as advance income-tax paid, so that the same can be adjusted against income-tax liability in order to avoid the procedural hassles and time involved in claiming refund. Further in case there is no advance tax payable either on account of loss or exempt income appropriate circular be issued to grant refund."
The post budget memorandum gives a Suggestion "It is suggested that such advance FBT paid should be treated as advance income-tax paid, so that the same can be adjusted against income-tax liability in order to avoid the procedural hassles and time involved in claiming refund. Further in case there is no advance tax payable either on account of loss or exempt income appropriate circular be issued to grant refund."
So has any press release for the same has been issued in this behalf?
Also is the post budget memorandum of ICAI binding on the IT Department?
Regards
CA Aditya Maheshwari
CA Aditya Maheshwari
From: Makarand Nashikkar <maknash@icai.
Sent: Mon, 14 December, 2009 2:57:28 PM
Subject: [aurangabad_
THE POST BUDGET MEMORANDUM OF THE ICAI CLEARLY SPECIFIES AS UNDER
"Advance FBT paid should be treated as advance income tax paid, so that the same can be adjusted against incometax liability in order to avoid the procedural hassles and time involved in claiming refund. Further in case there is no advance tax payable either on account of loss or exempt income appropriate circular be issued to grant refund."
To download the post budget memorandum just click here : http://www.mediafir e.com/file/ yjylh2ligyi/ 16677postbudget_ memorandum09. pdf
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AURANGABAD_CA is a Yahoo Group for the benefit of CA and other professional. It is especially meant for written discussion within group members and circulate the information among its members. The mail may contain such research/advice/opinion/information/fact provided by any member or moderator and every contain of the mail or information of yahoo is always subject to the Accuracy and of the description of facts.
The Aurangabad_CA , its moderator/owner do not claim that contains in mail/information obtained after reading as a complete and accurate disclosure of relevant fact(s).
Considering all above facts m the transaction based on above mail may not complete without confirming proper statue/authority/person. Therefore any action/transaction taken on basis of this mail do not imply the accuracy or value . Further this Group�s Owner/Moderator/Member are not liable for any damages or costs suffered due to action/transaction based on information on this Yahoo Group.
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