Vishwa2
Manager-finance
SUNEELKMASUR
Salaried
MSK
Training Manager
Salim_17776@yahoo.com
Executive - Finance & Accounts
+2 Others

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TDS please specify the bifurcation of TDS on contractors like if the prevailing rate is 2.26% then what amount of tax and surcharge and Edu.cess will be % wise, Regards, Mubeen
Hi,
For Payment under the head Contractor...the rate is 2.266% (If the receiver is a company) & its bifurcation is as under.
Tax Rate : 2.00
Add- Surcharge (10%) : 0.20
Add- Edu Cess (2%) : 0.044
Add - Sec Hig Edu (1%) : 0.022
THUS TOTAL RATE COMES TO 2.266%
Likewise the rates are same for Individuals & firms, except the thing that they are not charged with Surcharge of 10%

I have picked up one excel sheet from this site. Hope this will clarify the things. see in attachment rgds vishwanath

Attached Files
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File Type: xls tdsrates2007-08_213.xls (25.0 KB, 546 views)

Hi,
TDS - contract comes to 2.06% for this financial year.
Surcharge is applicable if that contract companies turnover is more than 10 lacs in the financial year. otherwise it is only the Tax - 2% and cess of 3% on the tax totally 2.06%
regards,
suneel.

Hi All,
I am in new member.. plz send me all company details like TDS/FBT/VAT etc.. I am service in Pvt. Ltd. Co. as a executive accountant. I know all rules about income tax. But for updating purpose..

HI all here is tds rates for 2008-2009

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File Type: xls TDS Rates 2008-2009.xls (29.0 KB, 316 views)

Please let me know about on how much amount of transcation TDS deduction shuld be compulsory in case of both company & non-company.
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