16 May 2009
Advance FBT has to be paid on or before 15/6,15/9,15/12 and 15/3 in case of corporate assessees and in case of other assessees on or before 15/9,15/12 and 15/3 respectively.
Failure to pay advance FBT or where the advance tax paid is less than 90% of the tax assessed, the assessee shall be liable to pay simple interest @ 1% per month for every month or part of a month comprised in the period.
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