FBT Interest

This query is : Resolved

Varsha (Querist)
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09 May 2008 On what amount FBT interest should be charged whether on fringe benefit or on fringe benefit tax?????????????
can anyone help me on this query???????

CA Hemant T Dewani

CA Hemant T Dewani (Expert)
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09 May 2008 INT IS ON FBT TAX IN TOUR & TRAVELLES TOTAL EXPEDITURE IS RS 100000/- & LIABLE FOR FBT U/S 115WB(Q)@5% IS RS 5000 SO TAX IS 33.99% IS 1700/- IF RS.1700/-NO PAID IN DUE DATE THEN INTEREST IS CHARGED @1% PER MONTH IF LATE BY ONE DAY YOU WILL PAY INTEREST WHOLE MONTH

Varsha

Varsha (Querist)
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09 May 2008 then interest will be calculated on Rs.1700

CA Hemant T Dewani

CA Hemant T Dewani (Expert)
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09 May 2008 Yes interest will be calculated on Rs.1700

Varsha

Varsha (Querist)
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09 May 2008 Thanks I lot my doubt is clear now.

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