TDS on payment more than 1 Crore - Professional Services

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

21 July 2010 Whether on payment for Professional services more than Rs 1 crore to Individuals, Firms, HUF, company ( all residents ) surcharge and education cess @ 7.5% and 3% applicable on 10% u/s 194J.

OR is it applicable only to Companies . Pl confirm.

srinath

srinath (Expert)
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21 July 2010 no surcharge and education cess should be added to the rate applicable other than for salaries

only the basic rate should be deducted. Amended by finance act (2) 2009.
ie if it is 194J just 10%, if it is 194C 1% or 2% as the case may be

CA Sanat Pyne

CA Sanat Pyne (Expert)
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21 July 2010 AGREE , OTHER THAN SALARY , ONLY BASIC RATE WILL BE APPLCABLE.

CMA. Subhash Kumar Jha

CMA. Subhash Kumar Jha (Expert)
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21 July 2010 Agree....only base rate @ 10 % would be applicable...

No surcharge or education cess w.e.f 01/10/2009....

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