19 June 2008
Sir, In last FY we had paid the excess FBT pls tell the treatment for that in books. Whether that amount should be posted at Expenses account.
24 June 2008
If Excess paid FBT is refundable you may show as an Asset but in case its non refundable you have to write off the same. The exp. will be disallowed by IT Dept.
CAclubindia
