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Fringe benefit tax
sir can anyone plz tell me that, is interest paid under sec 234c on fringe benefit tax is an allowable expense under income tax act.
Replies (10)
No, it is not an allowable expenses. For that matter any payment on account of Penal Interest is not an allowable expenses.
No, sec 40a specifically disallows any tax levied and interest theron. Hence 234c interest is not an allowable expenses
the act says any sum paid on account of Fringe Benefit Tax shall be disallowed. Interest on FBT is a sum paid on account of FBT. So such interest in not a deductible expense
No. Interest for late or non payment of Fringe Benefit Tax will not be allowed as a deduction. But Interest for late payment of Sales Tax, Customs and Excise duty will however be allowed as a deduction.
No
If we received services from outside india,we will liable to pay tax in service tax for comission wether we got the export order in outside india?
In a contract, when the service provider is not from India and the service recipient is a person from India, then the service recipient is liable to pay service tax on the amount of bill.
no
No,Not allowable
hi
No it's not allow for deduction under incometax act.All interest amount paid in respect of statutrry dues is not alloweable under IT act.
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