TDS - URGENT

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This query is : Resolved

M H Laskar (Querist)

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)

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)

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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