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APPLICABILITY OF F.B.T

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(Querist)
14 March 2009 Unit is situated under special economic zone for manufacturing and domestic sale. This is the first year. Assessee is allowable for 100% profit deduction u/s 80-I.

Since there will be no income tax as above , whether F.B.T payable ?.
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CA Devanshi Gandhi (Ajani)

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CA Devanshi Gandhi (Ajani) (Expert)
14 March 2009 a person is liable to pay FBT even if he does not have any income chargeable to income tax.

u r liable to pay FBT.
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CA.Tarun Maheshwari

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CA.Tarun Maheshwari (Expert)
14 March 2009 Yes Sir, FBT is payable. I am also handling a case u/s80IC. We have to pay FBT.
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SANJAY VERMA

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SANJAY VERMA (Expert)
14 March 2009 FBT is also payable in case of unit with only agriculture income.

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