Sec-115WJ(3) provides that when an assessee, has failed to pay the advance tax for any quarter or when advance tax paid by him is less than 30% the value of fringe benifit paid or payable in tha quarter, he shall be liable to pay simple interest @ 1% for the shortfall(FY-2006-07)------ in this case intrest is to be calcualted on FBT or FBT+Surcharge+Cess??
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Interest on short-fall of FBT
Replies (5)
FBT+Surcharge+Cess
its FBT+SC+CESS
its FBT+SC+CESS
Total Tax amount FBT+SC+Cess
Total tax liability which includes IT+Surcharge+Cess.
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