Hi Everybody,
Can someone tell me whether a company can pay the liability of FBT in next year instead of the year in which liability arose(if they forgot)?
Is it possible as per IT Act? or any penalty involved?
Menu
FBT Payment in next year
Replies (3)
Payment can made alongwith interest as calculated under section 115WJ (3) to (5).
PAYMENT CAN BE MADE ALONG WITH INTEREST
Interest amount will have to be over and above actual FBT liability
Recent Threads
- Accounting entry for inherited rural agriculture s
- Epf interest taxable, tds under which header
- Tax on photocopy
- Mutual fund income reporting
- Income taxform and 44ad and 44ada
- RSU - shares sold to cover taxes
- HSN numbers
- Disclosure of Additional Income in 148 Return
- Input tax after revision of GST rate
- Is Variable Pay considered as commission?
Related Threads
CAclubindia
