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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FBT ON PENALTY ON TELEPHONE BILL
Replies (5)
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.
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
Mr.Iyer is right. Though penalty amount will be debited to Telephone expenses, the same can not be subjected to FBT.
Dear Friend,
Plsase confirm the FBT liable on BSNL Bill ( Telephone - Land line).
Only amouunt to the extend of telephone bill can be charged under FBT
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