ANSHUMAN KHANDELWAL (JOB) (311 Points)
04 December 2008hi,
pl solve below queries as earliest :
1) Rate of FBT for Foreign co. =30% or 40 %
2) is 1 crore limit of surcharge(2.5%) applicable on foreign company too ?(in both case FBT & Income tax)
3) Is it OK that we charge surcharge on Income tax but not on FBT ?
thanx in advance
CA. Rajeev Aggarwal
(Chartered Accountant)
(3424 Points)
Replied 04 December 2008
In case of FBT, surcharge is there at a flat rate of 10%.
FBT is levied if employer is a company, a firm, an AOP / BOI, a local authority & every artifical judicial person.
Relating to company, clarification is following "Employer must have employees based in India"
Limit of 1cr & 2.5% of surcharge is related with Income tax only
CAclubindia
