FBT Interest
This query is : Resolved
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!!
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!!
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.
The interest is calculated in the same manner, as is done in case of shortfall in payment of advance tax.
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