Hi Friends,
Today me and my caligue had difference of opinion on deduction of surcharge along with TDS.
I argued that Surcharge shall be deducted if the dudectee's income exceeds 10 lakhs or 1 crore as applicable and my caligue argued that it is on the payment made to them and it should be deducted if our payment exceeds the above said limit.
Hence my question is When surcharge shall be deducted.
Dear Friends Kindly clarify my doubt.
With Regards
GIRIDHARAN K
Hi Giridharan,
Your friend is correct TDS is made when payments exceeds the limit for application of SC as at the time of payment the payer does not know the income of payee so the limit of SC is checked with the amount paid.
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