TDS
This query is : Resolved
22 February 2009
Respected Experts,
Could you please tell me when TDS on contractor is deducted @ 2.266%.
Thanks
Could you please tell me when TDS on contractor is deducted @ 2.266%.
Thanks
22 February 2009
When your payament to contractor exceeds or will exceed rs.10 Lakhs then surcharge is applicable.
Tds rate - 2.00
Surchrge at 10% - .20
--------
Total 2.20
Primary education cess .044
Secondary education cess.022
---------
Total 2.266
Tds rate - 2.00
Surchrge at 10% - .20
--------
Total 2.20
Primary education cess .044
Secondary education cess.022
---------
Total 2.266
22 February 2009
Sir
Is Income of the deductee is also considered for this purpose. I'm asking this coz I do interanl audit of a company which deducts TDS at 2.266% though payment to contractor (a company) is less than Rs. 1 lac.
Thanks
Is Income of the deductee is also considered for this purpose. I'm asking this coz I do interanl audit of a company which deducts TDS at 2.266% though payment to contractor (a company) is less than Rs. 1 lac.
Thanks
22 February 2009
Income of deductee is not to be considered. The auditee did a mistake.
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