Rates of Fringe Benefits Tax (FBT) - Income Tax - Ready Reckoner - Income Tax

Rates of Fringe Benefits Tax (FBT) for the Financial Year 2009-10 NIL / FBT withdrawn with effect from Financial Year 2009-2010 Rates of Fringe Benefits Tax (FBT) for the Financial Year 2008-09 Section 115WA Rate of FBT = 30% Note 1: - Add Surcharge - @ 10% ( =2.5% in case of non-domestic company) (No Surcharge if FBT does not exceed 10,00,000 in case of AOP/ BOI). (No Surcharge in case of Local Authorities / co-operative societies) Note 2: - Add Education Cess - 2% Note 3: - Add Secondary and Higher Education Cess - 1% from AY 2008-09 Note 4: - Individuals, HUF, Registered Political Parties, Persons eligible for exemption u/s 10(23C) or, 12AA are not subject to FBT Effective Rate of FBT (Rates are inclusive of Surcharge, Education Cess and Secondary Higher Education Cess) Employer Individual/HUF AOP / BOI Co-operative society or Local Authority Firm Domestic Company Non - Domestic Company Rate of FBT Nil 30.90% 33.99% 30.90% 33.99% 33.99% 31.6725 (Where Fringe Benefit is 10 lacs or below) (Where Fringe Benefit is Above 10 lacs) (Irrespective of amount of Fringe Benefit)