tds

This query is : Resolved

chiranjeevi (Querist)
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08 July 2010 my client paying rent 75000 to individual,

but deducting tds on 75000 plus 10.3% stax,
30.5.09 tds made on 82725 i.e tds 12409,surcharge 1241,eshc 410, is it correct?

share ur opinions

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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08 July 2010 NO. TDS SHOULD BE DEDUCTED ONLY ON RENT AMOUNT EXCLUSIVE OF SERVICE TAX.
FURTHER TDS RATE IS FLAT 10% NO SURCHARGES AND CESS APPLICABLE.

Aditya Maheshwari

Aditya Maheshwari (Expert)
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08 July 2010 If the year is correct in the query i. e. of May 2009 then the rate was 15% for individuals and not 10%. No need for surcharge & education cess on above if u are deducting TDS now. If TDS has already been deducted then education cess only must have been deducted.

W. e. f. 01.10.2009 the rate is 10%.

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CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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08 July 2010 2nd time wrong today. Just did not see the date. Thanks for correction Aditya Ji.