calculation of interest on fbt
This query is : Resolved
ca vishal aggarwal
(Querist)
21 October 2009
my fbt in different quarters r
1st quarter-639
2nd quarter-819
3rd quarter-738
4th quarter-688
i have paid advance tax of RS 2000 in ist quarter
plz tel me how much interest is payble on fbt
1st quarter-639
2nd quarter-819
3rd quarter-738
4th quarter-688
i have paid advance tax of RS 2000 in ist quarter
plz tel me how much interest is payble on fbt
CA. B.SRINIVASULU
(Expert)
21 October 2009
Total fbt liability was - 2884
15% in first instalment by june
45% in second instalment by sep
75% in third installment by dec
100% in fourth installment by mar.
Upto third installment no interest is payable.
On fourth installment 884*1% ie Rs.8
And on 884 from april to oct ie 8*7=56
Totally Rs.64 is payable as interest.
15% in first instalment by june
45% in second instalment by sep
75% in third installment by dec
100% in fourth installment by mar.
Upto third installment no interest is payable.
On fourth installment 884*1% ie Rs.8
And on 884 from april to oct ie 8*7=56
Totally Rs.64 is payable as interest.
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