TDS DEDUCTION OF RETAINERSHIP FEES
This query is : Resolved
Amol s Pathak
(Querist)
06 April 2009
IF THE ADVETRISING AGENCY IS SUBMITING EXEMPTION CERTIFICATE UNDER THE HEAD OF CERTIFICATE U/S 197(1)OF THE IT ACT 1961.
OF DEDUCTING TDS @ 1.133%.
AS PER THE LETTER SUBMITTED FROM AGENCY IT IS STATED THAT
"ASSESSED IN THIS CHARGE IS ENGAGED IN THE BUSINESS OF ADVERTISING & RECEIPTS BEING IN THE NATURE OF ADVERTISING RECEIPTS TDS IS AT THE RATE OF 1.00% & SURCHARGE AS APPLICABLE."
AT WHAT RATE WE HAVE TO DEDUCT TDS ON RETAINERSHIP FEES.IS IT 1.133% OR 11.33%.
OF DEDUCTING TDS @ 1.133%.
AS PER THE LETTER SUBMITTED FROM AGENCY IT IS STATED THAT
"ASSESSED IN THIS CHARGE IS ENGAGED IN THE BUSINESS OF ADVERTISING & RECEIPTS BEING IN THE NATURE OF ADVERTISING RECEIPTS TDS IS AT THE RATE OF 1.00% & SURCHARGE AS APPLICABLE."
AT WHAT RATE WE HAVE TO DEDUCT TDS ON RETAINERSHIP FEES.IS IT 1.133% OR 11.33%.
CA. B.SRINIVASULU
(Expert)
07 April 2009
The rate approved is 1.00%
Surcharge at 10% is 0.10%
Education cess .22%
Secondary edu cess is .11%
--------
1.43%
If surcharge is applicable
If surcharge is not applicable
The rate approved is 1.00%
Education cess .20%
Secondary edu cess .10%
-----------
1.30%
Surcharge at 10% is 0.10%
Education cess .22%
Secondary edu cess is .11%
--------
1.43%
If surcharge is applicable
If surcharge is not applicable
The rate approved is 1.00%
Education cess .20%
Secondary edu cess .10%
-----------
1.30%
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