FBT
This query is : Resolved
19 December 2009
Hey friends,please help me
Thanks in advance
1 ) what is the penalty & interest for FBT non payment & non filing of FBT return by the partnership firm ???
2) Also if any firm has not paid any FBT in the past (even though applicable),& IT assessment for the same has taken place & firm has been awarded refund as per return filed,
Then can ITO again open the case for FBT assessment subsequently or not ?
Thanks in advance
1 ) what is the penalty & interest for FBT non payment & non filing of FBT return by the partnership firm ???
2) Also if any firm has not paid any FBT in the past (even though applicable),& IT assessment for the same has taken place & firm has been awarded refund as per return filed,
Then can ITO again open the case for FBT assessment subsequently or not ?
20 December 2009
Penalty for FBT non payment attract 1% per month interest
Non filing of return Rs.100 per day up to the default contiunes
Non filing of return Rs.100 per day up to the default contiunes
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