TDS
This query is : Resolved
CA.GAURAV SACHWANI
(Querist)
26 November 2009
Is Surcharge under income tax is also applicable on the new rates of tds or is withdrawn like the education cess.Please Confirm
26 November 2009
Surcharge is withdrawn completely.
but education and higher education cess is to be deducted while deducting tds on salary.
in case of other payments edu cess and higher edu cess not to be considered for deducting tds
but education and higher education cess is to be deducted while deducting tds on salary.
in case of other payments edu cess and higher edu cess not to be considered for deducting tds
CA. Rishabh Mittal
(Expert)
26 November 2009
Both surcharge & education cess has been removed from TDS rates. Except, education cess still to be levied on TDS on salary
shakuntala chhangani
(Expert)
27 November 2009
Hi Gaurav, with due respect to above answers,
surcharge on TDS for the Financial year 2009-10 is applicable only when the recipient is a foreign co. and the payment / credit subject to TDS exceeds Rs. 1 crore(rate of surcharge 2.5% of TDS). in no other case, surcharge is applicable during financial year 2009-10.
education cess and secondary and higher secondary education cess is applicable in the following two cases
1. TDS from payment of salary
2. TDS from payment / credit (other than salary) to a nnon-resident or a foreign co.
Regards, CA Shakuntala Chhangani
surcharge on TDS for the Financial year 2009-10 is applicable only when the recipient is a foreign co. and the payment / credit subject to TDS exceeds Rs. 1 crore(rate of surcharge 2.5% of TDS). in no other case, surcharge is applicable during financial year 2009-10.
education cess and secondary and higher secondary education cess is applicable in the following two cases
1. TDS from payment of salary
2. TDS from payment / credit (other than salary) to a nnon-resident or a foreign co.
Regards, CA Shakuntala Chhangani
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