Let me know whether Surcharge to be charged on the amount of Basic Tax, in case TDS deducted on Intrest paid on other than securities to individual.
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Is surcharge to be calculate on TDS
Replies (19)
Interest other than interest on securities is covered u/s 194A.The rate of TDS applicable is 10% for company, firm, individual, HUF and co-op scty.No surcharge is applicable.
No Surcharge and Edu. Cess applicable.
No Surcharge and Edu. Cess is applicable now except on salary payments.
Hey hi...
I wanna knw that is surcharge and Edu. Cess applicable prior to 3oth Sept. 2009??If yes than wht rates???nd if not than frm date???
Yes. Surcharge and Education cess are applicable prior to 30 Sept.
with effect from assesement year 2010-11 there is no surcharge is applicabe except when payment is made to a foreign company and payment amount exceeds Rs.1crore.
YES,surcharge should be the part of tds calculation if the deductees total gross total income exceeds by Rs.10,00,000.
but frm 01.10.09 no surcharge will taken on calculation of tds.
surcharge will only be leviable on salary in case tds calculation
NO SURCHARGE AND EDUCATION CESS APPLICABLE FROM 01.10.2009
no surcharge and education cess are payable on TDS from 01.10.2009.............
From 1.10.2009, no surcharge and edu cess leviable on TDS>>>>>>>.
In the case of tax deduction at source, there has been a revision in the following TDS effective from 1st October 2009:
1. By way of interest other than interest on securities (194-A) – 10%
2. In case of interest on debentures and other securities – 10%
3. On other income like rent (194I) - 10%, on commission (194H) – 10%, On professional income (194J) – 10%.
4. TDS in respect of payment of Contractors as per provisions of Sec.194C has been changed. As per the amended provision, which is effective from 1st Oct. 2009, tax to be deducted in respect of any contracts entered with an individual or HUF, will be 1% in place of 2% and TDS for Contracts payable to persons other than individual and HUF will continue to be 2%.
5. As stated above, from 1st of October, the TDS on renting out immovable property and furniture will be deducted at 10% instead of 20% and rent payable in respect of Plant & Machinery, Vehicle, etc., is now reduced from 1st Oct.2009 from 10% to 2%.
There is no Surcharge and Education Cess if the payment is made to any persons other than Non Residents & salary payments.
| Originally posted by :Chandresh | ||
| " | NO SURCHARGE AND EDUCATION CESS APPLICABLE FROM 01.10.2009 | " |
it is correct
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