Surcharge, Education Cess, SHEC for A.Y. 2010-2011

CCI STUDENT....



There has been major changes with regard to surcharge, education cess, SHEC, after approval of the finance (No. 2) ACT, 2009. I have received so many queries about surcharge and education cess rates and applicability for A.Y. 2010-2011. I classified this article so that everyone can understand in a very simple manner.

All rates applicable w.e.f. 1-4-2009 in my view, although finance (No.2) Act approval date is 19th, Aug 2009.

Surcharge on Income Tax: -

Surcharge on income-tax for the assessment years 2009-2010 and 2010-11 will be as follows : -

  A.Y. 2009-10 A.Y. 2010-11
Individual/HUF/AOP/BOI if net income does not exceed Rs. 10 Lakh NIL NIL
Individual/HUF/AOP/BOI if net income exceeds Rs. 10 Lakh 10% NIL
Artificial Juridical Person 10% NIL
Co-operative society, local authority NIL NIL
Firm if net income does not exceed Rs. 1 Crore NIL NIL
Firm if net income exceed Rs 1 Crore 10% NIL
Domestic company if net income doews not exceed Rs. 1 Crore NIL NIL
Domestic company if net income exceeds Rs. 1 Crore 10% 10%
Foreign Company if net income does not exceed Rs. 1 Crore NIL NIL
Foreign Company if net income exceeds Rs. 1 Crore 2.5% 2.5%


Nature of Payment Whether surcharge is applicable Whether education cess @ 2% and SHEC @ 1% is applicable
Salary to a Resident or Non – Resident NO Yes
Payment other than salary to a resident NO NO
Payment other than salary to a non-resident not being foreign company NO YES
Payment other than salary to a foreign company (payment or credit subject to TDS does not exceed Rs. 1 Crore NO Yes
Payment other than salary to a foreign company (payment or credit subject to TDS exceeds Rs. 1 Crore) Yes @ 2.5 of TDS

Total likes : 1 times

 
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Learner



Mr.Balasubramanya....Good work...

So Surcharge applicable only for co....

 
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student/article



great job sir...........

 
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