When we (Company) deduct surcharge of Contractor (above 10
Lakhs Individual, 1 Crore in case of Company) Pl confirm
the meaning of 10 lakhs and 1 Crore. Either it means
payment made to the contractor in a year by a company or
one & more company (Aggreg. Income). Pl explan in detail.
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Answer / manish digwal
we have to deduct the 10% Surcharge, when their
Business exceeds from Rs.10 lacs Per annum only form
Individual ......and...... we hv to deduct the 10%
surcharge for company, when the Business of company exceeds
from Rs.1 Crore
Only for TDS
| Is This Answer Correct ? | 6 Yes | 1 No |
w.e.f 1-10-09 surcharge is levied only on salary and non on other payments.
In the above said question, surcharge is applicable on payment of income tax, if profit of the company is 1 crore or more and in case of individual is income exceeds 10 lacs.
tks
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / rajesh
we have to deduct the 10% Surcharge for Contractor if there
income exceeds Rs.10 lacs Per annum. same as company
| Is This Answer Correct ? | 3 Yes | 4 No |
Answer / l.govinda.rao
Aggregate payments made to contractor exceeds Rs 10 lakhs
per annaum the collect surcharge @10%
| Is This Answer Correct ? | 1 Yes | 2 No |
Answer / harrie007
A co. is required to deduct Tax at Source (TDS) if the
total payments to that particular person exceeds the
specified amount(10 lacs or 1 crores)
| Is This Answer Correct ? | 0 Yes | 2 No |
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