APPLICABILITY OF F.B.T
This query is : Resolved
TARUN BANSAL
(Querist)
14 March 2009
Unit is situated under special economic zone for manufacturing and domestic sale. This is the first year. Assessee is allowable for 100% profit deduction u/s 80-I.
Since there will be no income tax as above , whether F.B.T payable ?.
Since there will be no income tax as above , whether F.B.T payable ?.
14 March 2009
a person is liable to pay FBT even if he does not have any income chargeable to income tax.
u r liable to pay FBT.
u r liable to pay FBT.
CA.Tarun Maheshwari
(Expert)
14 March 2009
Yes Sir, FBT is payable. I am also handling a case u/s80IC. We have to pay FBT.
SANJAY VERMA
(Expert)
14 March 2009
FBT is also payable in case of unit with only agriculture income.
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