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Tds Query

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(Querist)
09 June 2009 Hellooo
I wanted to know that I am paying to a vendor a contract to TCS an amount of Rs 3,15,000 and i had deducted TDS at the rate of 2.26 i.e (2%tax,10%surcharge,3%education cess)whether it is correct.Please suggest me as early as possible.
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Sumit gupta

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Sumit gupta (Expert)
09 June 2009 YES THIS IS CORRECT.CONTRACTOR TDS RATE IS 2.266%.
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Jitender

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Jitender (Expert)
09 June 2009 it is incorrect as payment is not in excess of Rs 1crore, hence surcharge is not applicable.
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Ratan Sharma

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Ratan Sharma (Expert)
09 June 2009 Agreed with jitender.

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