Refund of FBT

[Ganges Limited]

Now the fringe benefit tax has been withdrawn for the asst year 2010-11. But we have remitted amount under fringe benefit tax for the Ist quarter of the FY 2009-10. Kindly inform me whether this tax is refundable.

AI Summary

Fringe Benefit Tax Refund for FY 2009-10 Confirmed; Consider Applying with Interest or Await Government Clarification. A user inquired about the refundability of the fringe benefit tax (FBT) paid for the first quarter of the fiscal year 2009-10, following its withdrawal for the assessment year 2010-11. Two respondents confirmed that the FBT is refundable. One suggested submitting an application for a refund with interest immediately, citing news of a potential refund mechanism. The other agreed but also mentioned the possibility of waiting for government clarification that might allow adjusting the FBT against regular tax.