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FBT Interest

This query is : Resolved 
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(Querist)
23 September 2009 Dear Friends,

This is with regard to FBT interest calculation. FBT interest on FBT payable is calculated on monthly basis or on quarterly basis?
Thanks in advance!!
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Shyam Lal Naik

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Shyam Lal Naik (Expert)
23 September 2009 It is neither on monthly basis, nor on quarterly basis.

The interest is calculated in the same manner, as is done in case of shortfall in payment of advance tax.
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