Criteria for charging Surcharge at the time T.D.S.

This query is : Resolved

S. M. Desai (Querist)
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15 July 2008 Dear All,

What is the creteria for charging Surcharge at the time of deducting T.D.S. in case of companies as well as individual deductees?

As per my knowledge if the deductees Taxable Income is above Rs. 1 crore surcharge @ 10% is applicable. But as we cannot know exact taxable income of deductee, we charge surcharge at 10 % in case of Pvt Ltd & Ltd. Co.s.

CA. Firoz

CA. Firoz (Expert)
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15 July 2008 There are two ways for charging surcharge on TDS for any company or individual.

One is where you made payment or credit his account by the amount of Rs 10 Lacs for individual and Rs 1 Crore in case of company.

Second way is where we assume that the income of individual or company to whom we are going to pay may exceeds the above limit of income.