FRINGE BENIFIT TAX

This query is : Resolved

varalaxmi (Querist)
Follow

30 May 2008 If FBT of the previous year i.e.AY2007-08 is not paid till then what is the consequence to file return for this year.

CA Hemant T Dewani

CA Hemant T Dewani (Expert)
Follow

30 May 2008 Interest for default in furnishing Return of Fringe Benefit Tax

Where the return of fringe benefits for any Assessment year has been furnished after the due date as specified in Section 115WD (1) or in response to a notice under Section 115WD (2) of that section, is furnished after the due date, or is not furnished, the employer shall be liable to pay simple interest @ 1% per month for every month or part thereof comprised in the period commencing from on the date immediately following the due date:-

Where the return is furnished after the due date, ending on the date of furnishing of the return;

Where no return furnished, ending on the date of completion of the assessment under section 115WF, on the amount of the tax on the value of fringe benefits as determined under Section 115WE (1) or regular assessment as reduced by the Advance Tax paid under Section 115 WJ.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

divakar podaturu

SHRI HARIRAO

Dalbir Singh Wadhera

Rajesh Surapaneni

Sandeep Ranjan

Subscribe Now

FRINGE BENIFIT TAX

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Accountant

Article Assistant

GST CONSULTANT

GST CONSULTANCY

Manager- Finance and Compliance

CA Final