surcharge on tds
This query is : Resolved
rahul kohli
(Querist)
26 June 2008
can anybody confirm that whether surcharge is leviable if the Payment or INCOME of party does not cross the respective limits of 1 crore and 10 lacs.thanks in advance
26 June 2008
if payment is made to co/p'ship firm-then limit for surcharge is 1 crorte.
ir to individual-10 lac
ir to individual-10 lac
rahul kohli
(Querist)
27 June 2008
rahul kohli
(Querist)
28 June 2008
thanks for the reply jitender but my question is what is this limit ...what is this limit of 1 crore and 10 lacs..is it turnover/ income of party whose Tds we are deducting or is this the amount of payment(if payment to that party exceeds limitys then only levy surcharge)
CA Pawan Goswami
(Expert)
27 October 2008
It is the aggregate of payment by you or amount credited in the name of party in your books, whichever is earlier.
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