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please help me

sridhar (student) (24 Points)

17 October 2008

hi friends,

in tds the applicable surcharge rate i.e 10% is based on the turnover (i.e.Rs 1 crore)

my question is whether the applicabel surcharge is based on

the turnover of the contractor or

the turnover of the contractee

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4 Replies

Magesh R (Student) (53 Points)
Replied 17 October 2008

Where u deduct tds to any person the question of surcharge is not based on his turnover.. IT is based on the payment which u r going to make. if ur payment exceeds one crore then u shud deduct surcharge also..

The question of one persons surcharge when profit exceeds 1 crore is only for his taxation.

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(Guest)

Sir,

I am a PCC student. MY attempt is in Nov. 2009 I want to take coaching but cannot get anything plz sugest me best teachers for all PCC subjects.

With Regards,

Niraj

CA Annie (Chartered Accountant ) (747 Points)
Replied 17 October 2008

Deduct surcharge if payees income exceeds the limit. ie. deduct surcharge along wit tds if the income of the person who recieves it exceeds the limit

parvez (Senior Marketing Manager) (22 Points)
Replied 18 October 2008

Originally posted by :sridhar
"	hi friends, in tds the applicable surcharge rate i.e 10% is based on the turnover (i.e.Rs 1 crore) my question is whether the applicabel surcharge is based on the turnover of the contractor or the turnover of the contractee	"