FBT INTEREST CALCLUATION

This query is : Resolved 

02 August 2008 IF A COMPANY HAVEN'T PAID FBT OF FY 06-07 AND GOING TO PAY IT WITH INTEREST ON 15TH SEPT 08. HOW THE INTEREST WILL BE CALCULATED?

AMOUNT OF FBT Rs 200000

02 August 2008 When Interest is due for payment under Section 115WJ (3) Rate of Interest Period of Interest Amount on which Interest u/s 115WJ (3) is payable
If Advance tax paid on/ before June 15 is less than 15% of Advance Tax payable
Simple Interest @ 1% per month
3 months 15% of Advance tax payable minus Advance Tax paid up to 15th June

If Advance tax paid on/ before September 15 is less than 45%
Of Advance Tax payable
Simple Interest @ 1% per month
3 months 45% of Advance tax payable minus Advance Tax paid up to 15th September

If Advance tax paid on/ before December 15 is less than 75%
Simple Interest @ 1% per month
3 months 15% of Advance tax payable minus Advance Tax paid up to 15th June

If Advance tax paid on/ before December 15 is less than 100%
Simple Interest @ 1% per month
1 month 15% of Advance tax payable minus Advance Tax paid up to 15th June



02 August 2008 Can u pls make the calculations

FBT Payable - Rs 200000
From FY 06-07


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