FBT INTEREST CALCLUATION
This query is : Resolved
02 August 2008
IF A COMPANY HAVEN'T PAID FBT OF FY 06-07 AND GOING TO PAY IT WITH INTEREST ON 15TH SEPT 08. HOW THE INTEREST WILL BE CALCULATED?
AMOUNT OF FBT Rs 200000
AMOUNT OF FBT Rs 200000
CA Hemant T Dewani
(Expert)
02 August 2008
When Interest is due for payment under Section 115WJ (3) Rate of Interest Period of Interest Amount on which Interest u/s 115WJ (3) is payable
If Advance tax paid on/ before June 15 is less than 15% of Advance Tax payable
Simple Interest @ 1% per month
3 months 15% of Advance tax payable minus Advance Tax paid up to 15th June
If Advance tax paid on/ before September 15 is less than 45%
Of Advance Tax payable
Simple Interest @ 1% per month
3 months 45% of Advance tax payable minus Advance Tax paid up to 15th September
If Advance tax paid on/ before December 15 is less than 75%
Simple Interest @ 1% per month
3 months 15% of Advance tax payable minus Advance Tax paid up to 15th June
If Advance tax paid on/ before December 15 is less than 100%
Simple Interest @ 1% per month
1 month 15% of Advance tax payable minus Advance Tax paid up to 15th June
If Advance tax paid on/ before June 15 is less than 15% of Advance Tax payable
Simple Interest @ 1% per month
3 months 15% of Advance tax payable minus Advance Tax paid up to 15th June
If Advance tax paid on/ before September 15 is less than 45%
Of Advance Tax payable
Simple Interest @ 1% per month
3 months 45% of Advance tax payable minus Advance Tax paid up to 15th September
If Advance tax paid on/ before December 15 is less than 75%
Simple Interest @ 1% per month
3 months 15% of Advance tax payable minus Advance Tax paid up to 15th June
If Advance tax paid on/ before December 15 is less than 100%
Simple Interest @ 1% per month
1 month 15% of Advance tax payable minus Advance Tax paid up to 15th June
02 August 2008
Can u pls make the calculations
FBT Payable - Rs 200000
From FY 06-07
FBT Payable - Rs 200000
From FY 06-07
Dhirajlal Rambhia
(Expert)
20 June 2023
"Sorry, I am not a featured member."
For featured members contact....
https://www.caclubindia.com/catalogue/featured.asp
For featured members contact....
https://www.caclubindia.com/catalogue/featured.asp
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Issuing of delivery challan by seller of goods
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Transfer of Physical Stock Between Two Proprietorship Concerns
- MSME disclosure and disallowance
- Taxation of crypto futures in India Fy 2026- 2027
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
