reg - FBT
This query is : Resolved
16 May 2009
what is the provision for deposite of FBT - monthly basic or quarterly??????
if monthly what is the penality for late deposite if i am deposting quartely
if monthly what is the penality for late deposite if i am deposting quartely
16 May 2009
Advance FBT has to be paid on or before 15/6,15/9,15/12 and 15/3 in case of corporate assessees and in case of other assessees on or before 15/9,15/12 and 15/3 respectively.
Failure to pay advance FBT or where the advance tax paid is less than 90% of the tax assessed, the assessee shall be liable to pay simple interest @ 1% per month for every month or part of a month comprised in the period.
Failure to pay advance FBT or where the advance tax paid is less than 90% of the tax assessed, the assessee shall be liable to pay simple interest @ 1% per month for every month or part of a month comprised in the period.
16 May 2009
i am working in a corporate sector
and depositing the FBT on Quarterly BAsis .
is it right because i am not paying any interest on Monthly FBT.
and depositing the FBT on Quarterly BAsis .
is it right because i am not paying any interest on Monthly FBT.
16 May 2009
Look at my answer to your 2nd query.
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