Surcharge & cess
This query is : Resolved
30 July 2009
Hello
The Finance Bill has been passed on 27.07.2009.
From which date should the surcharge and cess not be deducted as TDS and only the basic amount is to be deducted.
The Finance Bill has been passed on 27.07.2009.
From which date should the surcharge and cess not be deducted as TDS and only the basic amount is to be deducted.
30 July 2009
With effect from 06.07.09, the date on which the bill was presented.
As per the Finance Bill, the provision is applicable wef 01.04.09.
Since the SC & EC already deducted and deposited can not be undone prior the presentation of the bill, the effective date should be 06.07.09, in my opinion.
As per the Finance Bill, the provision is applicable wef 01.04.09.
Since the SC & EC already deducted and deposited can not be undone prior the presentation of the bill, the effective date should be 06.07.09, in my opinion.
31 July 2009
effective date is 01/10/2009
31 July 2009
NEW TDS RATES FROM 01.10.2009 PROPOSED IN BUDGET 2009
PARTICULARS NEW TDS RATE %
IF DEDUCTEE IS
Section Nature of
Payment
Cut off
Amount
Rs.
Individual
&
HUF
Others
194A Interest from a
Banking Company
Rs. 10000/- p.a.
10.00 20.00
194A Interest other than
From a Banking Company
Rs. 5000/- p.a.
10.00 20.00
194C Payment to Sub-
Contractors
And Payment for
Advertising
Contracts
Rs. 20000/- per
Contract or Rs.
50000/- p.a. 1.00 2.00
194C Other Contractors Rs. 20000/- per
Contract or Rs.
50000/- p.a.
1.00 2.00
194C Transport Contractors engaged In the
business of playing, hiring or leasing goods
carriages
NIL*
194H Commission or Brokerage Rs. 2500/- p.a.
10.00
194I Rent other than Plant,
Machinery
and Equipments
Rs. 120000/-
p.a. 10.00
194I Rent of Plant, Machinery
and
Equipments
Rs. 120000/-
p.a. 2.00
194J Professional and technical
Services
Rs. 20000/- p.a.
10.00
* The Nil rate will be applicable if the transporter Quotes his PAN.
** The rate of TDS will be 20% in all cases if PAN is not quoted by the
deduce w.e.f. 1.04.2010
*** No Surcharge and Cess on Tax deducted on non-salary payments made to
resident tax payers.
PARTICULARS NEW TDS RATE %
IF DEDUCTEE IS
Section Nature of
Payment
Cut off
Amount
Rs.
Individual
&
HUF
Others
194A Interest from a
Banking Company
Rs. 10000/- p.a.
10.00 20.00
194A Interest other than
From a Banking Company
Rs. 5000/- p.a.
10.00 20.00
194C Payment to Sub-
Contractors
And Payment for
Advertising
Contracts
Rs. 20000/- per
Contract or Rs.
50000/- p.a. 1.00 2.00
194C Other Contractors Rs. 20000/- per
Contract or Rs.
50000/- p.a.
1.00 2.00
194C Transport Contractors engaged In the
business of playing, hiring or leasing goods
carriages
NIL*
194H Commission or Brokerage Rs. 2500/- p.a.
10.00
194I Rent other than Plant,
Machinery
and Equipments
Rs. 120000/-
p.a. 10.00
194I Rent of Plant, Machinery
and
Equipments
Rs. 120000/-
p.a. 2.00
194J Professional and technical
Services
Rs. 20000/- p.a.
10.00
* The Nil rate will be applicable if the transporter Quotes his PAN.
** The rate of TDS will be 20% in all cases if PAN is not quoted by the
deduce w.e.f. 1.04.2010
*** No Surcharge and Cess on Tax deducted on non-salary payments made to
resident tax payers.
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