regarding applicability of surcharge
This query is : Resolved
Bidyananda kahar
(Querist)
19 June 2009
dear sir
I am working in a Pvt ltd co. I make a payment of Advance tax on 15th June,these
advance tax include also Surcharge of 10% and EC & SCH inlude 3% .
But my question is that at the time of payment of TDS of Adv Contractor Surcharge in not inlude by senior---why?
( As my knowledge SC is applicable for Domestic Co. is --- net income exceeds Rs.1 crore ) -- is this regulation is for
only deductor or deductee
plz clearify me this
I am working in a Pvt ltd co. I make a payment of Advance tax on 15th June,these
advance tax include also Surcharge of 10% and EC & SCH inlude 3% .
But my question is that at the time of payment of TDS of Adv Contractor Surcharge in not inlude by senior---why?
( As my knowledge SC is applicable for Domestic Co. is --- net income exceeds Rs.1 crore ) -- is this regulation is for
only deductor or deductee
plz clearify me this
Santosh Mishra
(Expert)
20 June 2009
As for the applicability of surcharge on TDS is concerned, deducter is liable to levy surcharge on the TDS if and only if payment to the concerned payee exceeds Rs. 1 Crore during the Year.
Likewise in case of Advance Tax is concerned surcharge has to be levied if the income crieterion fulfilled.
Likewise in case of Advance Tax is concerned surcharge has to be levied if the income crieterion fulfilled.
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