Hi All,
Whether surcharge is applicable on Income Tax payable by the company in case income exceeds Rs.1 crore for the current year i.e financial year 2009-10.
FBT was abolished w.e.f? Is FBT applicable for 1st quarter of 2009-10 or it is withdrawn for entire financial year.
Hi PAWAN,
1) Surcharge on Domestic Co;s is 10%, if its Total Income exceeds 1 crore
2) Surcharge on Foreign Co;s is 2.5% if its Total Income exceeds 1 crore
3) FBT WAS ABOLISHED WEF 01.04.2009, SINCE THIS AMENDMENT CAME ON 6TH AUGUST HENCE BOARD HAS ISSUED A CIRCULAR THAT THE 1ST INSTALLMENT OF ADVANCE FBT PAID FOR FY 2009-10 SHALL BE TREATED AS ADVANCE INCOME TAX
Dear Amir, the circular has not yet been issued for FBT treatment. It is still awaited.
Ya Mr. Tarun is rite that the circular is still awaited..But it will definately come..
hai dear circular is still awaited
surcharge on tds is applicable to all expenses & vendor payments
surcharge on tds payable only on foreign company transactions not domestic expenses & vendor payments
if payment exceeds 1 crore.
what is the current surcharge % for income slab .Is surcharge applicable to casual income?
CAclubindia
