Fringe Benefit Tax

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CA Nitin Wadhwani (Querist)
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09 September 2008 author : deepika
Posted On : 9/9/2008 11:58:38 AM
hello to all,

I wanted to know whether surcharge on FBT is aplicable to all irrespective of amount paid on FBT or profit of an company.

its Quiet Urgent..................

Expert : rohit
Posted On : 9/9/2008 12:36:51 PM
Hi Deepika

For Company & Partnership firm the rate of FBT is 33.99%(i.e. IT+SC+EC) irrespetive of the amt of Fringe benefit or its total income.

CA Rohit
Surat

Expert : CA Rajesh S
Posted On : 9/9/2008 4:20:33 PM
SC IS applicable irespective of profits

Answer: Surcharge Is Applicable If Value Of Fringe Benefits Exceed 1 Crore in Case Of Companies.

Therefore, Tax Rate Will Be 30.90% Or 33.99% Depending Upon Value Of Fringe Benefits.

Experts Are Giving Answers Hurriedly Just For Sake Of Earning Points And Thereby Misguiding Others.

CA Praveen Chopra

CA Praveen Chopra (Expert)
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09 September 2008 It is flat for the company as well as firms @ 10% on FBT irrespective of the limit of the profit.

CA Praveen Chopra

CA Praveen Chopra (Expert)
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09 September 2008 It is flat for the company as well as firms @ 10% on FBT irrespective of the limit of the profit.

CA Nitin Wadhwani

CA Nitin Wadhwani (Querist)
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09 September 2008 No.

It Does Not Depends Upon Profits But Value Of Fringe Benefits.

Plz Check Relevant Provision And Then Answer.

Jitender

Jitender (Expert)
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09 September 2008 sir.

surcharge is applicable irrespective of value of fbt.

& plz don't allege anyone.
everyone has it's opinion.

CA Nitin Wadhwani

CA Nitin Wadhwani (Querist)
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09 September 2008 I Am Not Alleging Anybody.
Opinion Is Of Need When There is Need To Test The Interpretation Of Law.
I Am Just Giving The Correct Answer For Sake Of One Who has Asked The Question