HELLO,
i have to give rent payment to a private co. so plz tell me whether i have to deduct surcharge tax on payment or not?
and what is the meaning of (surcharge should be deducted when co. income exceeds Rs. 1 crore.)
Thanks
Kumar Gaurav (Going...to be C.A soon...) (1624 Points)
04 August 2007HELLO,
i have to give rent payment to a private co. so plz tell me whether i have to deduct surcharge tax on payment or not?
and what is the meaning of (surcharge should be deducted when co. income exceeds Rs. 1 crore.)
Thanks
Late CA Sampat Jain
(Chartered Accountant)
(4772 Points)
Replied 04 August 2007
Ravi Bhushan Ambastha
(pvt service)
(20 Points)
Replied 06 August 2007
Neeta Gupta
(83 Points)
Replied 09 August 2007
Nitesh
(Chartered Accountant)
(340 Points)
Replied 11 August 2007
Originally posted by :Guest | ||
" | please inform me the tds % and surcharge on tds for payment of contractor and also the surcharge on TDS if deducted at lower rate, say 0.25% to Transport Contractor | " |
Harshal Shah
(Article)
(22 Points)
Replied 02 June 2009
Total Contract Payment to a Party(Individual) in the Financial year is 11 Lakhs in parts. Now, Whether Surcharge on TDS is levied on Full 11 lakhs or only exceeding amount than 10 lakhs i.e. Rs.1 Lakh
CA. Gurdeep Singh Chawla
(C A)
(7080 Points)
Replied 02 June 2009
Originally posted by :Harshal Shah | ||
" | Total Contract Payment to a Party(Individual) in the Financial year is 11 Lakhs in parts. Now, Whether Surcharge on TDS is levied on Full 11 lakhs or only exceeding amount than 10 lakhs i.e. Rs.1 Lakh | " |
TDS is leived on Rs. 11.00 lacs.
Anant
(Asst Mgr )
(22 Points)
Replied 14 August 2009
Originally posted by :Neeta Gupta | ||
" | Dear Friend If you will pay above 1 cr.rent in a year then you have to deduct surcharge otherwise there is no need to deduct tds on rent paid. |
" |
Dear Neeta
If you will pay above 1 cr.rent in a year then you have to deduct surcharge otherwise there is no need to deduct tds on rent paid.
i think it would be surcharge than tds on rent
Aditya Maheshwari
(CA in Practice)
(35867 Points)
Replied 14 August 2009
For all companies if the amount of payment in a year is likely to cross Rs. 1 cr then the same is liable for deduction of surcharge also. Even if it is less than Rs. 1 cr you can deduct TDS.
W. e. f. 01.10.2009 no surcharge and education cess on TDS.
paresh shirke
(SENIOR EXCUTIVE)
(31 Points)
Replied 12 September 2009
Surcharges 2.5% on taxes applicable on Total payment or Gross payment or Net taxable income of Receiver exceed 1 crore in case of foreign remittance U/S 195
If net taxable income of receiver from india yes than how deductor know the net taxable income of receiver from india please clarify or guide