What will be the rate of TDS for invoices raised before 1.10.2009 i.e. with cess or without cess
Alok Bansal (Consultant) (52 Points)
10 October 2009What will be the rate of TDS for invoices raised before 1.10.2009 i.e. with cess or without cess
Ratan Deep Saxena
(Asstt Manager (Accounts & Finance))
(2998 Points)
Replied 10 October 2009
Dear Alok,
plz see the tax chart below to see the tax rates before & after 01.10.09.
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TDS Rate Chart Assessment Year : 2010-2011 Financial Year : 2009-2010 |
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Particulars
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Individual / HUF
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Domestic Company / Firm
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Criteria for Deduction
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| Nature of Payments |
Section Code
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Rate
|
Rate
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| 1. Salary |
192
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As per the prescribe rates applicable to Individual / Women & Senior Citizens
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| 2. Interest other than Interest on Securities |
194A
|
10
|
10
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Payment in excess of
Rs 5,000/- p.a. |
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| 3. Winning from Lotteries & Puzzles |
194B
|
30
|
30
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| 4. Payment to Contractors |
194C
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1a
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2
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Payment in excess of
Rs 20,000/- per contract or Rs. 50,000/- p.a. |
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| 4.1 Payment to Adverting / Sub Contractors |
194C
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1b
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2b
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| 5. Insurance Commision |
194D
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10
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10
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| 6. Commision & Brokerage |
194H
|
10
|
10
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Payment in excess of
Rs 2,500/- p.a. |
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| 7. Rent - Land & Building |
194I
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10c
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10d
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Payment in excess of
Rs 1,20,000/- p.a. |
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| 7.1 Rent - Plant & Machinery |
194I
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2e
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2e
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| 8. Professional Fees & Technical Services |
194J
|
10
|
10
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Payment in excess of
Rs 20,000/- p.a. |
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Please note that
1. Surcharge is only applicable in case of payment to foreign company when payment is more than 1 crore. 2. Education cess is applicable only in case of Salary TDS and in case of payment to non-resident or foreign company. a. Before 01-10-2009 IT - 2 b. Before 01-10-2009 IT - 1 c. Before 01-10-2009 IT - 15 d. Before 01-10-2009 IT - 20 e. Before 01-10-2009 IT - 10 |
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best regards,
ratan
CAclubindia
