Please Wait ..

Sign-in to your account


Username:
Password:

Remember Me

Forgot your password?

Sign-up now



Join CAclubindia.com and Share your Knowledge. Registered members get a chance to interact at Forum, Ask Query, Comment etc.


Discussion > Income Tax > Others >

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

    Post New Topic
Pages : 1





CCI STUDENT....

[ Scorecard : 44489]
Posted On 14 February 2010 at 13:24 Report Abuse

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 thanks : 1 times

Online classes for CA CS CMA



C.Balaji
Learner

[ Scorecard : 1857]
Posted On 14 February 2010 at 18:54

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

So Surcharge applicable only for co....





madhur gupta
student/article

[ Scorecard : 1022]
Posted On 14 February 2010 at 19:02

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



There are 2 Replies to this message








Related Files








Related Threads


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



Your are not logged in . Please login to post replies

Click here to login


Not a member yet ?? Click here to signup

Message







    

  • Use thank button to convey your appreciation.
  • Maintain professionalism while posting and replying to topics.
  • Try to add value with your each post.




Forum Home | Forum Portal | Member Control Center | Who is Where | Popular Threads | Today's Topic | Recent Posts | Today's Posts | Post New Topic | Thread With Files | Top Threads This Month | Forum Stats | Unreplied Threads

back to the top