I have a query in respect of TDS to be deducted on Salary for the employees coming in higher bracket of Annual pay Greater than 10 Lakhs.
Whether the company should deduct the TDS including the Surcharge @ 10% or not.??
& on the same ground, Whether the company deducting TDS on other payments to individuals/HUF should consider the Surcharge @ 10% eg: Contract fees paying to an individual/HUF.
Should the company deduct the TDS at higher rate considering the Surcharge or should ignore the same as per the Revised Finance (No 2)2009.
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TDS on Salary
Replies (3)
U can deduct tax on salary excluding the amount of surcharge. For the payments other than salary surcharge and cess is not be included in the amount of tax from the date 1/10/2009 as per the finance act. I hope this will solve ur purpose
fully agree with ashish gupta ........
SURCHARGE IS TO BE IGNORED WHILE DEDUCTING TDS ON SALARY.
IN CASE OF TDS ON OTHER PAYMENTS TO INDIVIDUAL AND/OR HUF, SURCHARGE TO BE IGNORED ONLY ON PAYMENTS ON OR AFTER 01-OCT-2009.
REGARDS,
CA RITESH KOTHARI
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