TDS clarification for Small Companies

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20 Points Posted on 20 July 2009

As for the New TDS rates Im confused on 2 grounds....

1) Heard that Cess nd E.c remains for Small companies deducting TDS 

2)Earlier there were different charts for Co. with payment > 1 cror / Payments < 1 cror

 
Individual / HUF  & Firm with Payment upto 1 crore 
& 
Individual / HUF  & Firm with Payment above 1 crore
 
Has these brackets gone??? 
 
as per your chart its for Individuals / HUF & Other  Entity... 
 
Does it mean that If a small co. below 1 crore is deducting TDS of another Co. than it is 20%???
 
Kindly clarify.......

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On 20 July 2009 at 12:54 Report
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MCOM II ICWAI INTER Working as an ACCOU
20 Points Posted on 20 July 2009
Surcharge and Education Cess—
 
Levy of surcharge has been withdrawn for personal income tax payers . Earlier surcharge was levied at 10% having total income exceeding Rs. 10,00,000/- on such cases.
 
“Education Cess on Income-tax” and “Secondary and Higher Education Cess on income-tax” shall continue to be levied at the rate of two per cent and one per cent respectively of income-tax.
 
surcharge for Companies as it is!!! there is no any change,,,,,,,,,,,
 
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On 20 July 2009 at 13:32
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Services
20 Points Posted on 20 July 2009

Individual does not deduct TDS in any case. So does that mean that a company who deducts TDS @ 10% from Individual does not have to calculate SC & EC.

What rate of TDS is applicable for companies whose total payment is less than 1 crore when it deducts TDS of similar other company???? is it 10% or 20%

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On 20 July 2009 at 14:29
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Landmark Group
20 Points Posted on 20 July 2009

TDS Rates for AY 2010-11 (FY 2009-10)

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Descripttion easily understandable Latest TDS Rates for AY 2010-11 (FY 2009-10) :) cheers :)
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On 20 July 2009 at 17:14

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