https://www.taxtmi.com/article/detailed?id=658 The circular directs that any installment paid as "advance tax in respect of fringe benefits" shall be treated as Advance Tax for the assessment year in which FBT was abolished, permitting adjustment against advance income tax obligations or refund as advance tax. The article contends this administrative recharacterisation is unjust and delayed: FBT and income tax are distinct levies, so advance FBT collected after abolition should be refunded as FBT with interest from the date of payment, rather than merely reclassified and adjusted against later tax instalments. en-us Sun, 31 Jan 2010 00:00:00 +0530 Sun, 31 Jan 2010 22:35:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=658 The circular directs that any installment paid as "advance tax in respect of fringe benefits" shall be treated as Advance Tax for the assessment year in which FBT was abolished, permitting adjustment against advance income tax obligations or refund as advance tax. The article contends this administrative recharacterisation is unjust and delayed: FBT and income tax are distinct levies, so advance FBT collected after abolition should be refunded as FBT with interest from the date of payment, rather than merely reclassified and adjusted against later tax instalments. Articles Income Tax Sun, 31 Jan 2010 00:00:00 +0530 https://www.taxtmi.com/article/detailed?id=658