CA Day celebration 2024 Easy Office
LCI Learning

FBT on prepaid expenses

This query is : Resolved 
Profile Image

Profile Image

(Querist)
10 March 2009 Car Insurance paid on 01.02.2009 RS. 12000/-. Thus in the FY 2008-2009 a sum of 2000/- booked as insurance exps and balance Rs. 10000/- transferred to prepaid Expenses.
Pls confirm that FBT will be payable on Rs. 2000/- or Rs. 12000/-?
Profile Image

CA. MITHUN KHATRY

Profile Image

CA. MITHUN KHATRY (Expert)
10 March 2009 12000 because FBT in tax on expenses incurred i.e. not accrued

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


CA Day celebration 2024 with Tally CCI Pro

Trending Online Classes

view all classess
Let's Talk Money: You've Worked Hard for It, Now Make It Work for You
Click here for more bestsellers


Answer Query



Quick Links