Ratan Deep Saxena (Asstt Manager (Accounts & Finance)) (2998 Points)
Replied 01 April 2010

TDS Rate Chart
Assessment Year : 2010-2011 Financial Year : 2009-2010

Particulars

Individual / HUF

Domestic Company / Firm

Criteria for Deduction

Nature of Payments

Section Code

Rate

1. Salary

192

As per the prescribe rates applicable to Individual / Women & Senior Citizens

2. Interest other than Interest on Securities

194A

10

Payment in excess of
Rs 5,000/- p.a.

3. Winning from Lotteries & Puzzles

194B

30

4. Payment to Contractors

194C

1^a

2

Payment in excess of
Rs 20,000/- per contract or Rs. 50,000/- p.a.

4.1 Payment to Adverting / Sub Contractors

194C

1^b

2^b

5. Insurance Commision

194D

10

6. Commision & Brokerage

194H

10

Payment in excess of
Rs 2,500/- p.a.

7. Rent - Land & Building

194I

10^c

10^d

Payment in excess of
Rs 1,20,000/- p.a.

7.1 Rent - Plant & Machinery

194I

2^e

8. Professional Fees & Technical Services

194J

10

Payment in excess of
Rs 20,000/- p.a.

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

regards,

ratan

1 Like

Raj Patel (C.A + C.S.) (174 Points)
Replied 01 April 2010

Cess is to be calculated up to July - 2009.

Ashish Sharma (Service) (1028 Points)
Replied 01 April 2010

It's 20% and both cess and education to be calculated

CA AYUSH AGRAWAL (Kolkata-Pune-Mumbai) (26986 Points)
Replied 01 April 2010

Its 20% and There is No Education Cess

Aditya Maheshwari (CA in Practice) (35867 Points)
Replied 01 April 2010

It is a long drawn battle that the whether surcharge and education cess is not applicable on payments made before 01.10.2009

1 Like

Aditya Maheshwari (CA in Practice) (35867 Points)
Replied 01 April 2010

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.

1 Like

Yogesh (Advocate) (61 Points)
Replied 01 April 2010

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]

Back to TDS Page

2009-10 (Oct-Mar)

2009-10 (Apr-Sep)

2008-09

TDS rates for Financial Year 2009-10 (From 01st April 2009 to 30th September 2009)

Form 26Q:

Section	Nature of Payment	Status	Tax (%)

193	Interest on Debentures & Securities	COMPANY	20
193	Interest on Debentures & Securities	OTHERS	10
194A	Other Interest > Rs. 10,000 for Banking Co’s , etc. > Rs. 5,000	COMPANY	20
194A		OTHERS	10
194B	Lottery/Crossword Puzzle > Rs.5,000		30
194BB	Winnings from Horse Race > Rs. 2,500		30
194C(1)	Payment to a contractor (in the case of advertising contracts)		1
194C(2)	Payment to a contractor (other than an advertising contracts)		2
194C(3)	Payment to a sub-contractor		1
194D	Insurance Commission > Rs.5,000	COMPANY	20
194D	Insurance Commission > Rs.5,000	OTHERS	10
194EE	Withdrawal from NSS > Rs.2,500		20
194F	Repurchase of Units by MF/UTI		20
194G	Commission on Sale of Lottery Tickets > Rs.1,000		10
194H	Commission or Brokerage > Rs.2,500		10
194I	Rent > Rs.1,20,000 p. a. Rent of Plant & Machinery		10
	Rent of Land, Building, Furniture, etc	INDIVIDUAL /HUF	15
	Rent of Land, Building, Furniture, etc	OTHERS	20
194J	Professional or Technical Fess > Rs.20,000		10
194LA	Compensation on Compulsory Acquisition of immovable property >Rs.1,00,000 during the financial year		10
Surcharge ( On Tax)	Applicable for Companies/Firm. Also, Individual/HUF, if the total income exceeds or is likely to exceed Rs.10,00,000		10
Education Cess	on Tax deducted Plus Surcharge		3

Yogesh (Advocate) (61 Points)
Replied 01 April 2010

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.

Aditya Maheshwari (CA in Practice) (35867 Points)
Replied 01 April 2010

rate is 20%. No doubt on that

Ratan Deep Saxena (Asstt Manager (Accounts & Finance)) (2998 Points)
Replied 01 April 2010

Dear Yogesh,

TDS Rate will be deducted @ 20% as well as cess will be applicable.

regards,

ratan

Ratan Deep Saxena (Asstt Manager (Accounts & Finance)) (2998 Points)
Replied 01 April 2010

TDS Rate will be 20% alongwith cess. our company also deducted tds on unsecured loan @ 20.60%.

regards,

ratan

CA AYUSH AGRAWAL (Kolkata-Pune-Mumbai) (26986 Points)
Replied 01 April 2010

20 %, BUT CESS IS NOT APPLICABLE................

Amod Ranjan (Service) (356 Points)
Replied 01 April 2010

Rate is 20%

CA Bhawna Acharya (Manager Accounts) (26 Points)
Replied 01 April 2010

Yes it ill be 20% as amendment is after 1/10/2009

TDS rate for Company Deductee for period April 09-Sep 09

16 Replies

Online classes for CA CS CMA. Professional courses for GST, Tally, Others & Books

Its 20% and There is No Education Cess

20 %, BUT CESS IS NOT APPLICABLE................

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