Allowabillity of FBT?

Question

IfFBT is not paid during the year , whether this expenses is allowed at the time of calculating the net profit of a partenership fim on provisional basis, if we create the provision in the year end

Answer 1

FBT is not allowable as an expense for the purpose of calculation of income tax of your income.

Appoint a better Accountant or be ready to get caught in the net of the Income Tax.

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