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EDUCATION CESS

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(Querist)
18 September 2009 IS EDUCATION CESS REMOVED W.E.F. 01.04.2009 PLEASE LET ME KNOW IF THERE IS ANY AMENDMENT IN THIS MATTER


AS SOON AS POSSIBLE.
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CA SANJAY MUKHERJEE

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CA SANJAY MUKHERJEE (Expert)
18 September 2009 Hi Bhavneet,

Education cess will not be part of TDS subject to the following two exceptiopns w.e.f 01.04.09.

1) Payment of Salary to any person.

2)Payment of any sum to a non resident/foreign company.

Surcharge is applicable only for payment of more than 1 crore to a non resident/foreign company.

Moreover there will be some notified changes in some TDS rates w.e.f 01.10.2009.

Please refer to Income Tax ready reconer for that.

Cheers
Sanjay
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
18 September 2009 Pl refer section 1 and proviso's to section 2(11) and 2(12) of The Finance (No.2) Bill,2009 for the amendments.
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