Whether Surcharge is always applicable on FBT irrespective of total income.
CA PRAMESH AGARWAL (Profession) (152 Points)
21 September 2009Whether Surcharge is always applicable on FBT irrespective of total income.
SSG
(1936 Points)
Replied 21 September 2009
From AY 2010-11, FBT has been abolished.
In respect of fringe benefits chargeable to tax under section 115WA of the Income Tax Act, for assessment year 2009-10,
surcharge shall be levied as follows-
(a) in the case of every association of persons and body of individuals, at the rate of ten per cent. of the amount of tax,
where the total fringe benefits exceed ten lakh rupees.
(b) in the case of every firm, artificial juridical person and domestic company, at the rate of ten per cent. of the amount of tax, irrespective of the amount of fringe benefits.
(c) in the case of every company, other than a domestic company, at the rate of two and one-half per cent. of the amount of tax, irrespective of the amount of fringe benefits.
Chetan D.
(Management Accountant)
(89 Points)
Replied 21 September 2009
Yes . The surcharge is applicable at every time irrespective of total income.
VARUN
(PCC STUDENT)
(523 Points)
Replied 21 September 2009
Yes..... whenever there is a computation of FBT, surcharge applies @ 10%.
CA. Gurdeep Singh Chawla
(C A)
(7080 Points)
Replied 28 October 2009
From 01.04.2009, FBT has been abolished.
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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