No Provision for FBT or Short Provision
This query is : Resolved
10 July 2007
Dear sir/Madam,
Kindly help me out in the following query,
"when a Limited company does not provide provision for FBT or when such provision made is short"
What are the likely risk implications from the same.
Thanking You,
Madhu.
Kindly help me out in the following query,
"when a Limited company does not provide provision for FBT or when such provision made is short"
What are the likely risk implications from the same.
Thanking You,
Madhu.
11 July 2007
Dear Madhu
FBT is to be deposited in advance on or before 15th June, 15th Sept ... as in case of advance income tax. All penal provisions as applicable to short deposit of Income Tax shall be applicable to FBT also. ( See Section 115 WL )
FBT is to be deposited in advance on or before 15th June, 15th Sept ... as in case of advance income tax. All penal provisions as applicable to short deposit of Income Tax shall be applicable to FBT also. ( See Section 115 WL )
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