Surchage on FBT

This query is : Resolved

patel ishwarbhai harajibhai (Querist)
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28 March 2009 We are working with co-operative union and we pay FBT on fringe benefits provided to employees regularly with surcharge.

But my confusion is that, we are registered as co-operative society under the co-op. Act.
and we pay tax for our income without adding surcharge because surcharge not applicable to co-op. society w.e.f. 2006-07, we have to pay surcharge on FBT.

Pl. clarify for above.

CA Devanshi Gandhi (Ajani)

CA Devanshi Gandhi (Ajani) (Expert)
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28 March 2009 i dont think u will be liable for surcharge...

Ram Avtar Singh

Ram Avtar Singh (Expert)
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28 March 2009 there is no relif on sercharge on FBT.so sercharge on FBT is applicable to all.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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28 March 2009 If the employer is an AOP/BOI and if the fringe benefit does not exceed Rs.10,00,000/-no surcharge is payable. If exceeds rate of surcharge is 10%. Source:- page 141 of Taxmann's 'Taxation of FBT's' 4th edition.

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