05 November 2009
We have obtained Lower TDS certificates from various parties which contains TDS + SUrcharge & Cess. As per Budget 2009-10 surcharge & Cess has been removed from TDS. So whether we have to deduct TDS from these parties on TDS+Surcharge & Cess or to deduct TDS only on Principal TDS amt.( We have not yet received revised Lower tDS certificates from parties).Presently we are deducting TDS on including Surcharge & Cess as it is safer from our side. Pl suggest the LAW & give any reference ( Notification, circular, Act).
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