Turnover/Gross Receipt of Deductee is relevant for the application of Surcharge on TDS. If the turnover/gross receipt of a deductee exceeds the specified limit i.e. Rs. 10 lakhs in case of individual/HUF and Rs. 1 crore in case of Companies, Surcharge becomes applicable on the TDS amount.
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In case of Individual n huf surcharge is not applicalbe 4m the current F.Y...... in case of companies u r rite...
| Originally posted by :Pankaj Chaudhary | ||
| " | Turnover/Gross Receipt of Deductee is relevant for the application of Surcharge on TDS. If the turnover/gross receipt of a deductee exceeds the specified limit i.e. Rs. 10 lakhs in case of individual/HUF and Rs. 1 crore in case of Companies, Surcharge becomes applicable on the TDS amount. | " |
Ya its true for certain sections of Chapter XVII-B of I T Act prior to F.Y. 2009-10.
Certain sections attracts surcharge irrespective of Income limit i.e. 10 lacs or 1 crore.
Thanks
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