may 2010 tx amend on fbt

swati (NA) (65 Points)

23 February 2010  

there's an amendement that fbt has been abolished..

then all the facilities provided by a co. employer to its employees were earlier taxable in the hands of co.

now will the employee be liable to pay tax on them??? (like club facility, free car, telephone facility etc.)

also has surcharge been abolished on all incomes exceeding 10lac in case of individuals, firms etc.???