HELLO,
i have to give rent payment to a private co. so plz tell me whether i have to deduct surcharge tax on payment or not?
and what is the meaning of (surcharge should be deducted when co. income exceeds Rs. 1 crore.)
Thanks
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SURCHARGE ON TDS
Replies (11)
If the income paid i.e payment of rent is more than Rs 1 crore than only surcharge is to be deducted
surchage wil be deducted only when the gross income of the payee(landlord) is more than 1crore ,and the rate of surcharge is @ 10% on the TDS.
THANKS
Dear Friend
If you will pay above 1 cr.rent in a year then you have to deduct surcharge otherwise there is no need to deduct tds on rent paid.
On the safer side you should deduct surcharge on payment
please inform me the tds % and surcharge on tds for payment of contractor
| Originally posted by :Guest | ||
| " | please inform me the tds % and surcharge on tds for payment of contractor and also the surcharge on TDS if deducted at lower rate, say 0.25% to Transport Contractor | " |
Total Contract Payment to a Party(Individual) in the Financial year is 11 Lakhs in parts. Now, Whether Surcharge on TDS is levied on Full 11 lakhs or only exceeding amount than 10 lakhs i.e. Rs.1 Lakh
| Originally posted by :Harshal Shah | ||
| " | Total Contract Payment to a Party(Individual) in the Financial year is 11 Lakhs in parts. Now, Whether Surcharge on TDS is levied on Full 11 lakhs or only exceeding amount than 10 lakhs i.e. Rs.1 Lakh | " |
TDS is leived on Rs. 11.00 lacs.
| Originally posted by :Neeta Gupta | ||
| " | Dear Friend If you will pay above 1 cr.rent in a year then you have to deduct surcharge otherwise there is no need to deduct tds on rent paid. |
" |
Dear Neeta
If you will pay above 1 cr.rent in a year then you have to deduct surcharge otherwise there is no need to deduct tds on rent paid.
i think it would be surcharge than tds on rent
For all companies if the amount of payment in a year is likely to cross Rs. 1 cr then the same is liable for deduction of surcharge also. Even if it is less than Rs. 1 cr you can deduct TDS.
W. e. f. 01.10.2009 no surcharge and education cess on TDS.
Surcharges 2.5% on taxes applicable on Total payment or Gross payment or Net taxable income of Receiver exceed 1 crore in case of foreign remittance U/S 195
If net taxable income of receiver from india yes than how deductor know the net taxable income of receiver from india please clarify or guide
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