FBT

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Sandeep Kumar

Sandeep Kumar (Querist)
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27 May 2010 FRIENGE BENEFIT TAX SHOWN IN P&L A/C OR TRANSFER TO CAPITAL A/C

Aditya Maheshwari

Aditya Maheshwari (Expert)
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27 May 2010 FBT scrapped w. e. f. 01.04.2009.

I think u are asking about partnership accounts as FBT not applicable to proprietorship firms.

Both the options can be done.

If shown in P & L A/c then the same will be disallowed in the computation of total income.

If trfd to capital a/c then no claim of expenses. In all effect remains the same on the total income.