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FBT ON PENALTY ON TELEPHONE BILL

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accountant
169 Points Posted on 07 December 2007

Dear friends,

can somebody else tell me if we paid a tele phone bill with late payment charges this will include in telephone exps. or not if yes then the  fbt will be paid on this penalty ?

Thanks and Regards

Abid Hussain

 

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On 07 December 2007 at 09:54 Report
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SERVICE
315 Points Posted on 07 December 2007
The provision of section 115WB(2)(J) uses the word Use of telephone. The penalty/delay payment charges are levied on late payment of telephone which is not use of telephone. Hence the charges levied towards delay in payment will not attract FBT.
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On 07 December 2007 at 10:34
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herherh
54 Points Posted on 07 December 2007
hi mahesh, but the penalty has been levied on late payment in respect of use of telephone itself...so doesnt that fit into "Use of TELEPHONE" Please reply...even i am not sure
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On 07 December 2007 at 20:56
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Service
6158 Points Posted on 08 December 2007
Mr.Iyer is right. Though penalty amount will be debited to Telephone expenses, the same can not be subjected to FBT.
4 Reply
On 08 December 2007 at 12:57
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Guest
459055 Points Posted on 14 December 2007
Dear Friend, Plsase confirm the FBT liable on BSNL Bill ( Telephone - Land line).
368 Reply
On 14 December 2007 at 16:47
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article
2677 Points Posted on 27 December 2007
Only amouunt to the extend of telephone bill can be charged under FBT
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On 27 December 2007 at 17:42


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