On what strength, do we not deduct Surcharge & cess
This query is : Resolved
Pankaj K Gupta
(Querist)
04 October 2009
On what strength, do we not deduct Surcharge & cess over and above prescribed TDS rates.
Where are the mentions of this bar in Income Tax Act or any circular issued there under.
Where are the mentions of this bar in Income Tax Act or any circular issued there under.
04 October 2009
Part 11 of The First Schedule of The Finance (N0.2) Bill,2009. Also proviso to sub section 11 and 12 to section 2 of the said bill.
Shyam Lal Naik
(Expert)
05 October 2009
The collection of Surcharge and Cess on Income Tax has to be mandated by the parliament every year.
In the absence of such a provision in the Finance(No. 2) Act, 2009, there is no necessity of collection of SC & EC.
In the absence of such a provision in the Finance(No. 2) Act, 2009, there is no necessity of collection of SC & EC.
Pankaj K Gupta
(Querist)
06 October 2009
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