Surcharge

Dear friend prasad,

Surcharge is applicable only on foreign company (at 2.5%) and on domestic company (at 7.5% for A.Y. 2010-11 and at 10% for A.Y. 2009-10) if their income exceeds Rs. 1 crore. Surcharge is not applicable in any other case.

In respect of TDS, surcharge is applicable only in respect of payment made to a foreign company and not in any other case.

Regards

Chintan

I think A.Y should be substituted with F.Y in above answer

dear friend nikhil,

Income tax rates (including rates of surcharge) are applicable for Assessment year and not for financial year... TDS rates are applicable for F.Y...

Regards

Chintan

Please see the link.........

https://www.caclubindia.com/forum/may-november-2010-attempts-70395.asp

Dear friend Chintan shah......

Thank you 4 ur reply......  also thankful to Balaji for sharing on this topic

but regarding TDS I have some doubts......

1.  If we are giving a contract Rs. 1crore above to a private ltd company then we have to deduct TDS including surcharge i.e,  2.266% (194C)...

2. If we are giving   a contract Rs. 10 lakhs above to a Individual person then we have to deduct TDS including surcharge i.e,  2.266% (194C)

But the above 2 cases are changed after budget 2009 bcz in budget 2009 there was no cess and surcharge on any TDS PAYMENT  ( W.e.f 1st Oct 2009 )   ...........IS ITS RIGHT...???????????

Thank you,

PRASAD

Yes, it's absolutely right, no need to deduct surcharge.

i agree with vivek no surcharge to be deducted for TDS

Yes u r rite.......Please see the attachment.....

Source : caclubindia...