TDS Rate applicability
This query is : Resolved
17 June 2008
Dear Sir,
I have one query regarding the TDS rate,When actually we can determine when the tds rate will be applicable with surcharge and when without surcharge.When I referred TDS chart I seen that It is on the basis of Total Payment made to the party during the year,but my query is that whether that 1 Crore & 10 lakh limit is for Payment or for Income of the party? I mean to say If total payment exceeds Rs 1 crore in case of Company & Firm & 10 lacs in case of HUF then TDS rate with surcharge applicable or when the Income of Compay,Firm or HUF exceeds above limit?
Kindly resolve my query and reply asap
Thank you
I have one query regarding the TDS rate,When actually we can determine when the tds rate will be applicable with surcharge and when without surcharge.When I referred TDS chart I seen that It is on the basis of Total Payment made to the party during the year,but my query is that whether that 1 Crore & 10 lakh limit is for Payment or for Income of the party? I mean to say If total payment exceeds Rs 1 crore in case of Company & Firm & 10 lacs in case of HUF then TDS rate with surcharge applicable or when the Income of Compay,Firm or HUF exceeds above limit?
Kindly resolve my query and reply asap
Thank you
17 June 2008
dear jignesh,
If total payment exceeds Rs 1 crore in case of Company & Firm & 10 lacs in case of HUF then TDS rate with surcharge is applicable
If total payment exceeds Rs 1 crore in case of Company & Firm & 10 lacs in case of HUF then TDS rate with surcharge is applicable
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