Sir,
Please tell me what was the rate of surcharge and education cess under sec.941 in F.Y 2009-10
And also please tell me whether one has to calculate surcharge and education cess on bill amount or income tax amount for f.y 2009-10.
Regards
Sushant
1 Replies
Sanat kumar
(Chartered Accountant)
(265 Points)
Replied 19 August 2011
Hi Sushant
Surcharge:
No Surcharge on TDS in case of payment is made to Resident or Domestic Company
No Surcharge on TDS in case of payment is made to Non Resident other than Foreign Company
2.5% Surcharge on TDS if the recipient is a foreign company and amount exceeds Rs. 1 Crore.
Education Cess
No EC or SHEC on TDS in case of payment is made to Resident or Domestic Company [Other than Salary]
3% EC and SHEC (2% + 1%) on TDS in case of Salary
3% EC and SHEC (2% + 1%) on TDS in case of payment is made to Non Resident
Calculation of Surcharge/cess: On income tax amount.
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