TDS rate for Firm & Company
This query is : Resolved
Guest
Guest
(Querist)
22 October 2008
TDS rates when the deductee is Firm or Company:
TDS provisions tell that the rate of TDS inclusive of surcharge shall be applicable when the payment or credit exceeds Rs. 1.00 Crore during the F.Y.?
Now whether the payment or credit as said above shall be the payment or credit from the payer(we are) only or the total(global) receipt of the deductee...
Which shall be considered for Tds purpose?
Thanks & Regards
CA Rohit
TDS provisions tell that the rate of TDS inclusive of surcharge shall be applicable when the payment or credit exceeds Rs. 1.00 Crore during the F.Y.?
Now whether the payment or credit as said above shall be the payment or credit from the payer(we are) only or the total(global) receipt of the deductee...
Which shall be considered for Tds purpose?
Thanks & Regards
CA Rohit
22 October 2008
If the payment from you exceeds. No need to consider global receipt.
22 October 2008
Payment or credit from the payer is only to be used as the criteria fo reckoning the limit of Rs.1 crore
22 October 2008
Surcharge is applicable only if gross payment by you/party exceeds Rs. 1 crore.
This amendment has come into effect from 1st April, 2008.
This amendment has come into effect from 1st April, 2008.
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