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
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%