TDS : Exemption of Surcharge on Individual
This query is : Resolved
Pradeep Kumar
(Querist)
07 July 2009
Hi
Kindly advice,
whether Exemption of Surcharge on Individual having income more than Rs. 10 lakh pa will impact applicability of Surcharge of 10% on TDS Limits as well, i.e, is we are paying 11,00,000.00 to an Individual under sec 194 C then in that case which rate we should apply 2.06 or 2.266?????
Thanks
Kindly advice,
whether Exemption of Surcharge on Individual having income more than Rs. 10 lakh pa will impact applicability of Surcharge of 10% on TDS Limits as well, i.e, is we are paying 11,00,000.00 to an Individual under sec 194 C then in that case which rate we should apply 2.06 or 2.266?????
Thanks
Ratan Sharma
(Expert)
07 July 2009
Hi,
As the surcharge is abolished on Individuals. Therefore the TDS is to be deducted without surcharge i.e. by 2.06 % even if the payment exceeds Rs. 10 lacs.
As the surcharge is abolished on Individuals. Therefore the TDS is to be deducted without surcharge i.e. by 2.06 % even if the payment exceeds Rs. 10 lacs.
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taxindiaconnect
(Expert)
10 July 2009
Agree with Ratan
taxindiaconnect
(Expert)
10 July 2009
Agree with Ratan
Shyam Lal Naik
(Expert)
22 July 2009
No need to deduct the Edn. Cess as well except in case of TDS deduction on salary.
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