Lbt

This query is : Resolved

farhan abdulmajid khan (Querist)
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17 December 2013 please provide me a link to the circular on LBT means Notification or circular as such.
i want to know the rate plus penalty for non payment and other like wise detail

vijay

vijay (Expert)
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14 January 2014 Rate of Interest for Non-Payment of LBT is 2% per month(For 1st 12 months) then 3 %
Penalty for Late Registration is upto 5 time of LBT liability arised till date of registeration,For Late Filing of return- 5,000/-
And Penalty for not disclosing LBT liability in Return is upto 5 times of such amount and Ineterst @ 2% p.m. on it

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