Fringe Benefit Tax

This query is : Resolved

Prakash (Querist)
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11 November 2008 We want to know that how we will compute quterly FBT before 15 days ago. It is assumption basis. But if assumption less than actual so how we will pay deficit amount, it is adjust with next quater. Also We want to know FBT applicable for proprietary business. Do u know any website provide free FBT software.

Thanking U.

S.Srinivasaraghavan

S.Srinivasaraghavan (Expert)
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11 November 2008 It is not assumption. We know at the point of incurrence whether it attracts FBT or not. We have our own software which lists FBT automatically and we pay. Small adjustments may results on account of any minor JVs, which are always made up by review.

Prakash

Prakash (Querist)
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11 November 2008

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CA R N Mohil

CA R N Mohil (Expert)
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11 November 2008 FBT IS PAYABLE ON ACTUAL BASIS. IN CASE OF DEFICIENCY ONE CAN PAY IN THE NEXT QUATER ALONG WITH INTEREST, IN CASE OF PROPRIETORY CONCERN FBT IS NOT PAYABLE, THERE IS NO FREE SOFTWARE FOR FBT COMPUTATION ON THE WEB

Pankaj Jhawar

Pankaj Jhawar (Expert)
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11 November 2008 Its simple boss, no worry just pay little bit on assumption as we do in Income Tax