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of <h1>Fringe Benefits Tax Withdrawn from 2009-10; 2008-09 FBT at 30% Under Section 115WA with Various Surcharges and Cesses</h1> Fringe Benefits Tax (FBT) was withdrawn starting from the financial year 2009-10. For the financial year 2008-09, the FBT rate was 30% under Section 115WA. Surcharges of 10% applied, except for non-domestic companies at 2.5%, and no surcharge was applicable if FBT did not exceed 10,00,000 for certain entities. An education cess of 2% and a secondary and higher education cess of 1% were added from AY 2008-09. Certain entities like individuals, HUF, registered political parties, and those exempt under specific sections were not subject to FBT. Effective rates varied based on entity type and fringe benefit amount.
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