FBT Interest
This query is : Resolved
09 May 2008
On what amount FBT interest should be charged whether on fringe benefit or on fringe benefit tax?????????????
can anyone help me on this query???????
can anyone help me on this query???????
09 May 2008
INT IS ON FBT TAX IN TOUR & TRAVELLES TOTAL EXPEDITURE IS RS 100000/- & LIABLE FOR FBT U/S 115WB(Q)@5% IS RS 5000 SO TAX IS 33.99% IS 1700/- IF RS.1700/-NO PAID IN DUE DATE THEN INTEREST IS CHARGED @1% PER MONTH IF LATE BY ONE DAY YOU WILL PAY INTEREST WHOLE MONTH
09 May 2008
Yes interest will be calculated on Rs.1700
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