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%

02 October 2008 See the heading of the question is FBT, but questionrefers to income!Before answer
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.




You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries