+2 Others
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
From India , Mumbai
From India , Mumbai
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%
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%
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.
From India , Bangalore
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.
From India , Bangalore
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..
From India , Pune
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..
From India , Pune
This discussion thread is closed. If you want to continue this discussion or have a follow up question, please post it on the network.
Add the url of this thread if you want to cite this discussion.
Add the url of this thread if you want to cite this discussion.
#Subject List: tds calculation tds calculations tds deduction financial year City-India-Mumbai Country-India
TDS Chart-1.xls
TDS Sections.doc
