TDS rate for Firm & Company

This query is : Resolved

Guest

Guest (Querist)

22 October 2008 TDS rates when the deductee is Firm or Company:

TDS provisions tell that the rate of TDS inclusive of surcharge shall be applicable when the payment or credit exceeds Rs. 1.00 Crore during the F.Y.?

Now whether the payment or credit as said above shall be the payment or credit from the payer(we are) only or the total(global) receipt of the deductee...

Which shall be considered for Tds purpose?

Thanks & Regards
CA Rohit

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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22 October 2008 If the payment from you exceeds. No need to consider global receipt.

Sanjay

Sanjay (Expert)
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22 October 2008 Payment or credit from the payer is only to be used as the criteria fo reckoning the limit of Rs.1 crore

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Reetika Goel

Reetika Goel (Expert)
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22 October 2008 Surcharge is applicable only if gross payment by you/party exceeds Rs. 1 crore.

This amendment has come into effect from 1st April, 2008.