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FBT

S.P.Mahanta (Internal Auditor) (647 Points)

15 March 2008

Can u pl. confirm the latest rule regarding last date for qtrly payment of FBT?.Has the old rule for payment of FBT on qtrly basis, i.e within 15 th July, 15th Oct 15th Jan & 15th March is still valid?. Kindly confirm at the earliest.

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9 Replies

Atul Kumar (CA) (504 Points)
Replied 15 March 2008

Yes it is still there.

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O.D.SHARMA (DGM-F & A) (1734 Points)
Replied 15 March 2008

yes,Dear make fast 15th is touching

M.Sriram Shenoy (CA Final) (814 Points)
Replied 17 March 2008

Same due dates are in effect.

CA CS CIMA Prakash Somani (Landmark Group) (23502 Points)
Replied 17 March 2008

Yes its still valid...the changes made by this Budget is applicable from 1 April 2008 unless mention otherwise.

S.P.Mahanta (Internal Auditor) (647 Points)
Replied 11 April 2008

Deposit of FBT rules have undergone change. It is now payable like Adv: Tax i.e

on estimated basis on 15th June, 15th Sept, 15th Dec & 15th March respectively. My another query is, whether advance FBT paid in FY 07-08

can be adjusted against FBT liability of JUNE 08-09. Pl. refer notification

or circular.

spm.

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(Guest)

same

(Guest)

dear sir;

we make tax payments online. due to over sight instead

instead of making advance tax payment we have paid

the tax as F.B.T. .

IT WOULD BE KIND OF YOU IF YOU LET US KNOW HOW

TO CONVERT THIS F.B.T. PAYMENT AS ADVANCE TAX.

YOUR EARLY REPY WILL BE APPRECIATED

THANKING YOU.

vanitha (Senior Executive - Accounts) (49 Points)
Replied 15 December 2008

Hi all

I have not paid FBT for this year till now, what is the process . I need to pay it now

Thanks

Vanitha

S.P.Mahanta (Internal Auditor) (647 Points)
Replied 16 December 2008

FBT is payable on expenses incurred by the Company which are considered of deemed fringe benefit. Such Tax is payable qtrly basis on 15th june , 15th sept , 15th dec & 15th march in the form of advance tax basis. Since, you have missed out on payment, such ought to be paid on arrear basis.