The question is: Whether Surcharge of 10% is still applicable on the TDS deducted like Ed.Cess and Higher Ed.Cess???? or its Abolished????
11 Replies
vijay singhal
(article)
(299 Points)
Replied 22 August 2009
it is not abolished completely .......inform if find info bout it
Ashish M
(Chartered Accountant)
(2731 Points)
Replied 23 August 2009
SURCHARGE;
For tax purposes, surcharge is abolished for all entities except companies.......that means no surchage is payable by any person except company (domestic =10% and foriegn=2.5%) with the present limits of 1 crore....
As for TDS purposes, no surchage is applicable at all i.e. for TDS, no surcharge at all...............
CESS(edu+SH);
For tax purposes, Edu cess and SHEC is without any modification exists........
As for TDS purposes, Edu cess + SHEC not to be included for deducting TDS in tax rates in any case except on salary..........
Jay patel
(Senior Auditor - Risk & Assurance)
(71 Points)
Replied 23 August 2009
| Originally posted by :Ashish M | ||
| " | SURCHARGE; "As for TDS purposes, Edu cess + SHEC not to be included for deducting TDS in tax rates in any case except on salary..........??????" didnt get this SIR...wanna more expln on this particular Qoute of urs... PLs... For tax purposes, surcharge is abolished for all entities except companies.......that means no surchage is payable by any person except company (domestic =10% and foriegn=2.5%) with the present limits of 1 crore.... As for TDS purposes, no surchage is applicable at all i.e. for TDS, no surcharge at all............... CESS(edu+SH); For tax purposes, Edu cess and SHEC is without any modification exists........ As for TDS purposes, Edu cess + SHEC not to be included for deducting TDS in tax rates in any case except on salary.......... |
" |
MR. R....halpfull hand is back
(.)
(297 Points)
Replied 24 August 2009
For tax purposes, surcharge is abolished for all entities except companies.......that means no surchage is payable by any person except company (domestic =10% and foriegn=2.5%) with the present limits of 1 crore....
cess is for salary
RITESH KOTHARI
(B.COM, FCA, DISA(ICAI))
(778 Points)
Replied 24 August 2009
IF THE DEDUCTEE IS INDIVIDUAL OR HUF THEN NO SURCHARGE IS APPLICABLE.
BUT IN ANY OTHER CASE SURCHARGE IS APPLICABLE @ 10% ON DOMESTIC COMPANIES & 2.5% ON FOREIGN COMPANIES.
REGARDS,
RITESH KOTHARI
CA Madhumita Binani
(Executive Accounts (SERVICE))
(389 Points)
Replied 25 August 2009
Refer the following extract from the latest Income Tax Act (after insertion of the Finance (no. 2) Act, 2009):-
"Surcharge is applicable for TDS purposes only when the recipient is a foreign company and payment/credit subject to TDS exceeds Rs. 1 Crore. In no other case, surcharge is applicable at the time of deduction of tax at source.
Education Cess and Secondary and Higher Education Cess are applicable for TDS purposes in the case of tax deduction from payment of salary to a resident or non-resident. Education cess and Secondary and Higher Educatioin Cess are also applicable in the case of payment or credit of any other sum to a non-resident or a foreign company. In no other case, Education Cess and Secondary and Higher Education Cess are apllicable for TDS purposes."
Regards
Madhumita
CA Madhumita Binani
(Executive Accounts (SERVICE))
(389 Points)
Replied 25 August 2009
I hope this will certainly help you understand the surcharge clause.....!!
Dhawal Mohnot
(Practicing)
(449 Points)
Replied 09 February 2010
Can you please clarify if surcharge was applicable for TDS U/s 194j for the AY 08-09.
What is the condition to remmit the TDS along with Surcharge.
Thanks in advance for the guidance.
Pankaj Arora
(Learner)
(3134 Points)
Replied 10 February 2010
for Deductin TDS Surchase and Cess has completely abolished
Pankaj Arora
(Learner)
(3134 Points)
Replied 10 February 2010
Surcharge and Cess is applicable only under section 192 for salary
Dhawal Mohnot
(Practicing)
(449 Points)
Replied 10 February 2010
Boss, I am aware that Surcharge and Cess is not applicable WEF 1 Oct 09. But my question is at the time when it was applicable what was the condition to deduct the surcharge.
Is it that we had to assess the gross taxable income of the deductee?
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