21 October 2009
FBT has been removed from FY 2009-10.
If your query relates to FY 2008-09 then simple interest @ 1% on the short fall for every month or part of the month for which the short fall continues.
Just want to add that interest will be payable for non payment of advance FBT and also for non conforming the payment pattern during the due dates. It's almost similar like Sec 234B and 234 C.
CAclubindia
