Dear Experts,
can you pls explain for my question.......
what are the effecting points to Surcharge and Education cess in the Budget 2009?
Thanks in adv
PRASAD
7 Replies
praveen
(Chartered Accountant)
(6971 Points)
Replied 14 October 2009
- surcharge on personal taxation is removed
- surcharge and cess need not be deducted when doing TDS.
- Surcharge on income tax on partnership is removed.
Krutesh Patel
(ACA)
(727 Points)
Replied 14 October 2009
No surcharge is payable on total income of Individual.
in case of TDS no surcharge or cess is required to be deducted.
Punit Tibrewal
(student )
(1684 Points)
Replied 15 October 2009
now surcharge is levied only in case of companies ..!
Deeps
(Article Assisstant)
(2485 Points)
Replied 15 October 2009
In case of Foreign Remittance Education Cess to be collected and remitted.
hemant
(article)
(26 Points)
Replied 15 October 2009
is surchrge and cess aplicable while payiing salary??
Juzer Sadikot
(CA - innovative solutions for Imports and Exports)
(1309 Points)
Replied 15 October 2009
Dear Hemant,
No surcharge on TDS on Salary/Advance Tax;
Edu Cess and Higher Sec Edu Cess is leviable.
Thanks
Ratan Deep Saxena
(Asstt Manager (Accounts & Finance))
(2998 Points)
Replied 15 October 2009
1. Surcharge is only applicable in case of payment to foreign company when payment is more than 1 crore.
2. Education cess is applicable only in case of Salary TDS and in case of payment to non-resident or foreign company.
regards,
ratan
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