FRINGE BENEFIT TAX

This query is : Resolved 

24 September 2008 1)WHEN FRINGE BENEFIT TAX IS TO BE PAID MEANS AFTER COMPLETION OF BALANCE SHEET?

2) WHAT IS THE INTEREST RATE IF IT IS PAID LATE FOR EG AFTER TWO MONTHS THAT IS AFTER APRIL & MAY?

24 September 2008 PLEASE TELL ME

24 September 2008 1. FBT should be paid before filling of return of FBT.

2. Interest rate penalty is same as sec 234 A,B & C.

24 September 2008 Amount of Advance Tax and Interest on failure to pay advnace FBT - u/s 115WI.


24 September 2008 The advance tax paid by the assessee is less than 90% of the tax assessed u/s 115WE/WF/WG.
Amount of assessed tax * No. of months or part of a month from 1st apr of AY to the Date of assessement tax * 1%pm


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