Refund of FBT, Income Tax

[Manikandan R Ramasamy K]

Now the fringe benefit tax has been withdrawn for the asst year 2010-11. But we have remitted amount under fringe benefit tax for the Ist quarter of the FY 2009-10. Kindly inform me whether this tax is refundable.

Posts / Replies

[DEV KUMAR KOTHARI]

Yes, it is refundable. Few dasy ago ther was news in ET that FM will intoruduce mechanism for refund. However, an application for refund with interest can be submitted immediately.

[Mukesh Kumar]

I agree with the view of Mr. Dev Kumar Kothari, you should file an application for refund. But alternatively you may wait some time preheps, government would come out with some clarification and allow the adjustment of FBT with regular tax.