TDS - URGENT

This query is : Resolved

M H Laskar (Querist)
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09 October 2009 Dear Sir,
I require the latest TDS on Salary Slabs ? Also require the TDS other than Salary Rates. When should it come to force the New TDS Rates ? As I have deducted TDS U/s 194J @ 11.33% (Company) in Sept-2009. But In October I have deducted 10%. Am I right ? If not what to do ?
Surcharge & Education Cess on TDS on Salary require or not ?
Plz suggest.
Thankx.

CA SANJAY MUKHERJEE

CA SANJAY MUKHERJEE (Expert)
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09 October 2009 TDS on salary depends on Taxable salary, it may be 10/20/30 % and education cess depending upon taxable salary.

Education cess required to be deducted from salary but no surcharge.

Except for Salary and payment to NRI/Foreigner Surcharge and education cess will not be part of TDS.

Don't worry about 11.33 % deducted , just deposit that , there will be no problem for excess deducted.

chetan soni

chetan soni (Expert)
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09 October 2009 TDS on salary needs to be deducted on monthly basis. Depending upon the income tax slab of the employees. Here are the slabs:

For Men employee
Upto 1.6L NIL
from 1.6L to 3L = 10% on amount exceeding 1.6L
from 3L to 5L = 20% on amount exceeding 3L + 14000
from 5L = 30% of amount exceeding 5L+ 54000

For Womens employees(below 65age)
Upto 1.9L NIL
from 1.9L to 3L = 10% on amount exceeding 1.6L
from 3L to 5L = 20% on amount exceeding 3L + 11000
from 5L = 30% of amount exceeding 5L+ 51000

NOTE SURCHARGE & EDUCAITON CESS IS APPLICABLE ON TDS ON SALARY.

Also note you are right there is no surcharge & education cess on payments other than salaries.

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