Confusion on Surcharge

ysd prasad (Accounts officer) (250 Points)

04 March 2010  

Dear Experts…,

 

   

Can you tell me that is there any mistakes in the following points……..???????

 

 

  1. Surcharge and cess is abolished on any TDS payment ( w.e.f 1st Oct 2009 to till date ) except salaries.

 

  1. Surcharge is abolished for firms ( w.e.f 1st Oct 2009 to till date )

 

 

  1. Surcharge is applicable for Companies @ 10% and for foreign company is 2.5% if the net taxable income above 1crore  w.e.f 1st Oct 2009.

 

  1. for AY 2011-12 surcharge @ 7.5% on pvt ltd companies and @ 2.5% on foreign companies if net taxable income above 1crore.

 

  1. If any Individual person or women or Senior Citizen having taxable income above 8 lackhs then there is no Surcharge.

Thank you,

 

PRASAD