ØThe amount of income tax, so computed has to be increased by a Surcharge of 10%, if the payee, lessee or license holder, happens to be a Company, Firm, and their total income exceeds Rs. 1 Crore during the financial year.
ØIn case the payee, lessee or licensee happens to be Individuals, Hindu Undivided Families, Association of Persons, Body of Individuals, if their total income exceeds Rs. 10 Lakhs then their cases are also subject to the levy of surcharge at 10%.
ØIn the case of any artificial juridical person, surcharge is recoverable on any payment made without any limits.
ØIn other cases, there is no surcharge. That means, if the payee, is a Co-operative Society or Local Authority, then no Surcharge is leviable irrespective of the amount paid.
I am working in software company.We had subscribed to access the Timesjob employment portal.
The charges payable for such services is Rs.70000.00 inclusive of service tax.
Kindly clarify whether Tds is payable on the amount and if so at what rate?
Yes you have deduct TDS on the Total Charges (Including Service tax). and If you may have contract or maynot you have deduct 11.33% because it comes under consultation charges catagory.
The Times jobs is a company, ( Corporate) so you have deduct 11.33% instead of 2.06%.( this 2.06% is applicable only for individuals)