TDS on Salary FY 2008-2009

This query is : Resolved

CPA Parveen Sharma (Querist)
Follow

12 November 2009 Hi All, just a simple question... Surcharge and Edu cess is not applicable upto 10lac in regard of salary for the FY 2009-10..i mean threshold limit for Surcharge and Education cess is 10k ..correct ? and in other case other than salary threshold limit is 1 crore for Surcharge and edu cess...Thanks in advance...

CA SANJAY MUKHERJEE

CA SANJAY MUKHERJEE (Expert)
Follow

12 November 2009 For FY 2009-10 No surcharge is there on Salary Income but education cess is there.this is for any taxable salary and there is no threshold limit for this.

However surcharge is applicable for than 1 crore payment to Non - domestic Company alogwith edu cess.

Foe payment < 1 crore to non domestic company and payment of any amount to non resident non corporate person only education cess is applicable and there is no surcharge.

Cess is 2+1= 3% in all cases.

CPA Parveen Sharma

CPA Parveen Sharma (Querist)
Follow

12 November 2009 thanks Sanjay for your help..

Guest

Guest (Expert)

12 November 2009 in case of domestic company surcharge is applicable if payment exceeds 1 crore.

CA SANJAY MUKHERJEE

CA SANJAY MUKHERJEE (Expert)
Follow

12 November 2009 Agree with Rakesh, Surcharge is 1 % for domestic company and 2.5% for foreign company,

But the heading of the question is about TDS and even for payment over 1 crore to domestic company surchagre will not be added to TDS rate.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now