tds
This query is : Resolved
08 July 2010
my client paying rent 75000 to individual,
but deducting tds on 75000 plus 10.3% stax,
30.5.09 tds made on 82725 i.e tds 12409,surcharge 1241,eshc 410, is it correct?
share ur opinions
but deducting tds on 75000 plus 10.3% stax,
30.5.09 tds made on 82725 i.e tds 12409,surcharge 1241,eshc 410, is it correct?
share ur opinions
08 July 2010
NO. TDS SHOULD BE DEDUCTED ONLY ON RENT AMOUNT EXCLUSIVE OF SERVICE TAX.
FURTHER TDS RATE IS FLAT 10% NO SURCHARGES AND CESS APPLICABLE.
FURTHER TDS RATE IS FLAT 10% NO SURCHARGES AND CESS APPLICABLE.
08 July 2010
If the year is correct in the query i. e. of May 2009 then the rate was 15% for individuals and not 10%. No need for surcharge & education cess on above if u are deducting TDS now. If TDS has already been deducted then education cess only must have been deducted.
W. e. f. 01.10.2009 the rate is 10%.
W. e. f. 01.10.2009 the rate is 10%.
08 July 2010
2nd time wrong today. Just did not see the date. Thanks for correction Aditya Ji.
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