Fbt

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

26 August 2011 Recently we had recd a notice from I.T electronic department Bangalore rejecting our requesting our request for correction in our return of FBt, saying that the correction cannot be possible as it is mentioned as minor head 400 which is correct, it has to be rectified by the bank only, they have to upload the same.
What is Major head and minor head

MAHENDRA KUMAR BAGRECHA

MAHENDRA KUMAR BAGRECHA (Expert)
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29 August 2011 HI,

If you see the challan for FBT payment, while paying FBT, we need to select nature of payment like self asst tax, advance tax or against any assessment(that is code 400)etc. If while paying FBT, you have selected 400, CPC will not give you FBT tax paid credit and you need to contact to your jurisdictional ITO only to get the credit.