CORRECT TDS PROCEDURE FOR HSEC

This query is : Resolved

TRIBHUVAN PUROHIT (Querist)
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13 October 2008 MY QUERY IS ABOUT 1% HIGHER SECONDRY EDUCATION CESS.

ON WHICH AMOUNT IT APPLIES ( VIEW THE EXAMPLE AS BELOW)

A CONTRACT PAYMENT WHERE I HAVE PAID RS.100000 @ 2.266 %

AT ONE HAND THE AMOUNT WILL WORK OUT AS RS.22660
RS. 10,00,000.00 X 2.266% = 22660

BUT ON OTHER HAND IT WILL WORK OUT 22600
TAX =10,00,000.00 X 2 % = RS. 20,000.00
SURCHARGE = 10% OF 20,000/- = RS.2000.00
E. CESS = 2% OF RS.20,000/- = RS. 400.00
HSE CESS= 1% OF RS.20,000/- = RS. 200.00

TOTAL WORKS OUT = 22600

WHICH AMOUNT IS CORRECT AS PER LAW
PLEASE EXPLAIN?

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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13 October 2008 tax Rs.20000/-
surcharge Rs. 2000/-
edu.cess Rs. 440/-
s&h.e.cess Rs. 220/-

CA V. Mohanakrishnan

CA V. Mohanakrishnan (Expert)
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13 October 2008 the cess is on the tax and surcharge together. what is the basis for your working

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