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.
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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