FBT deductible expenses for MAT purposes
Posted on Sun Dec 17, 2006 at 06:41:53 AM EST
As per the frequently asked questions (no. 103) on the Income tax website, FBT is allowable deduction for the purposes of computation Boof Profit under MAT eventhough it is not deductible for the purpose of computation of Income under the Income Tax Act.
For further details on Fringe Benefit Tax please refer to CIRCULAR NO.8/2005: EXPLANATORY NOTES ON THE PROVISIONS RELATING TO FRINGE BENEFIT TAX.
Regards
Pankaj Modani
Chartered Accountant, Pune.
By Unregistered Visitors, Section Taxation - Income Tax
Posted on Sun Dec 17, 2006 at 06:41:53 AM EST
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