What is the rate of TDS u/s 194A if the deductee is company from 01/04/2009 to 30/09/2009 and wether cess to be calculated on such amount?
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TDS rate for Company Deductee for period April 09-Sep 09
Replies (16)
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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
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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
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10
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10
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Payment in excess of
Rs 5,000/- p.a. |
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| 3. Winning from Lotteries & Puzzles |
194B
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30
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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
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10
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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
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10
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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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regards,
ratan
Cess is to be calculated up to July - 2009.
It's 20% and both cess and education to be calculated
Its 20% and There is No Education Cess
It is a long drawn battle that the whether surcharge and education cess is not applicable on payments made before 01.10.2009
Surcharge and Cess on TDS is governed by Section 2(6), 2(11) and 2(12) of the Finance (No. 2) Act, 2009. These sub sections does not mention the effective dates. Hence reference has to be made to the Section 1(2) of the Finance Act which says that "save as otherwise provided in this Act, section 2 to 84 shall be deemed to have come into force on the 1st Day of 2009."
So on the date of passing of this act, which is 19.08.2009 section 2(6), 2(11) and 2(12) became applicable from 01-04-2009. So if any assessee has not deducted surcharge and cess prior to 19.08.09 also, then also he should not be an assessee in default for A. Y. 2010 - 11.
Thanks
But the information is given on saraltax.com is different what is the right rate of TDS on Company Please clarify
| TDS Rates for 2009-10 [Non Salaries and TCS] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Thanks Aditya
But my submission is wether the tax deducted prior 01/10/2009 should be 10% or 20% with Cess where the deuctee is company.
rate is 20%. No doubt on that
Dear Yogesh,
TDS Rate will be deducted @ 20% as well as cess will be applicable.
regards,
ratan
TDS Rate will be 20% alongwith cess. our company also deducted tds on unsecured loan @ 20.60%.
regards,
ratan
20 %, BUT CESS IS NOT APPLICABLE................
Rate is 20%
Yes it ill be 20% as amendment is after 1/10/2009
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