wiping out of education cess
This query is : Resolved
asmita parab
(Querist)
29 July 2009
dear expert
whether education cess wiped out as per 2009 finance bill, what is new rates for Contractor and professional & from which date it will be applicable?
whether education cess wiped out as per 2009 finance bill, what is new rates for Contractor and professional & from which date it will be applicable?
Shyam Lal Naik
(Expert)
30 July 2009
Education cess still in force.
It is not applicable for the limited purpose of TDS. How ever, Edn Cess is very much deductible in cases falling u/s 192B. Further, it is applicable to payment made to non residents.
For professional : - No change in rate. It is 10%(wef 06.07.09).
For Contractor :
No Cahnge in rate 2%(wef 06.07.09)
Wef 01.10.09
if the deductee is indivisual/Huf - 1%, in other case 2% &
In case of transport contract, nil, if PAN no. provided by the deductee.
It is not applicable for the limited purpose of TDS. How ever, Edn Cess is very much deductible in cases falling u/s 192B. Further, it is applicable to payment made to non residents.
For professional : - No change in rate. It is 10%(wef 06.07.09).
For Contractor :
No Cahnge in rate 2%(wef 06.07.09)
Wef 01.10.09
if the deductee is indivisual/Huf - 1%, in other case 2% &
In case of transport contract, nil, if PAN no. provided by the deductee.
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