can fbt payable be set off against TDS?
This query is : Resolved
07 June 2008
HI everyone needed clarification on the above point. can someone explain with reasons why or why not this should be done?
07 June 2008
FBT returns are filed and assessed separately from Income Tax Returns . The claim of TDS is available in the Income Tax return . SO TDS can not be claimed in FBT return.
08 June 2008
see TDS deducted is on income earned by a person while FBT is payable on the certain type of expenditure. Both are separately assessed. It can be claimed by filing IT returns which is separately from each other. So both can not be set off each other.
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