Shivani (Learner) (1881 Points)
03 November 2013Hi Friends
Happy Diwali to all
We know that now TDS @ 10% is applicable provided taxable income exceeds a specified limit.
Suppose ABC Ltd. makes a payment of 1 crore 10 lakh to X for advertising services provided.
How TDS will be deducted in this case.
Will be consider surcharge also while deducting TDS?
Shivani
Mihir
(Wealth Manager)
(5293 Points)
Replied 03 November 2013
Payment made to advertising u/s 194C to a company attracts TDS of 2%. If the payment exceeds 1 crore but less than 10 crore, TDS is 2.1%, and if it exceeds 10 crore, TDS is 2.2%.
Yes, surcharge will be added in TDS.
Shivani
(Learner)
(1881 Points)
Replied 03 November 2013
Dear Mihir Sir
Are you sure?
Because if we don't consider cesses for TDS purposes then why are we considering surcharge here?
Surcharge is applied before Cesses and we not considering cesses but considering surcharge.
can u provide relevant section, circular in this regard.
thanks
shivani
Mihir
(Wealth Manager)
(5293 Points)
Replied 03 November 2013
Apologies.
Cess not applicable for payment made for other than salary.
Surcharge will not be applicable.
TDS at 2% for company and 1% for individual.
satish kumar Chauhan
(accountant)
(346 Points)
Replied 05 November 2013
1. No surcharge & cess is applicale on TDS/tcs except TDS on salray
2. TDS rate U/S 194C @ 1% in the case of dudctee is an individul or HUF and other cases 2%
LIVE Form 10 B and Form 10BB: Handle Tax Audit Reports of Charitable Organizations(with recording)
CAclubindia
