FBT Rates and Surcharge
This query is : Resolved
02 October 2008
Hi,I wanted to know whether there is surcharge applicable for the assessee whose income has not crossed the specified limit?
02 October 2008
For FBT Tax shall be calculated at the rate of 30% plus surcharge plus education cess plus higher & Secondary cess irrespective of the income of the assessee.
02 October 2008
You have to explain the status of assessee and what is the specific limit you are referring to.
02 October 2008
If the question is regarding FBT rate, Ms.Reetika's view is correct.
02 October 2008
FBT is leviable on specific expenses. It has nothing to do with Income of the Assessee.
FBT is always leviable @ 30% as increased by Sc of 10% & Hec of 3%
FBT is always leviable @ 30% as increased by Sc of 10% & Hec of 3%
02 October 2008
See the heading of the question is FBT, but questionrefers to income!Before answer
is given the question is clarified.
is given the question is clarified.
02 October 2008
Pardon me.I withdraw from my answer.
02 October 2008
surcharge is applicable irrespective of level of income.
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