TDS RATES 2009-10 CHANGES IN TDS RATES

By admin at 17 September, 2009, 12:57 am

Major Changes has been made in TDS rates for Financial Year 2009-10. 1.No surcharge or cess is required to be added in basic tds rates in case of resident and domestic company .(detailed chart is given below) 2.TDS provisions of section 194C has be revised ,earlier rates are on the basis of nature of contract,ow it has been changed to nature of person(deductee). 3.Tds rates as per Section 194A and 194I has been [...]Major Changes has been made in TDS rates for Financial Year 2009-10. 1.No surcharge or cess is required to be added in basic tds rates in case of resident and domestic company .(detailed chart is given below) 2.TDS provisions of section 194C has be revised ,earlier rates are on the basis of nature of contract,ow it has been changed to nature of person(deductee). 3.Tds rates as per Section 194A and 194I has been reduced (detail given in chart) TDS RATES APPLICABLE UP TO 30.09.2009 TDS RATES APPLICABLE FROM 1.10.2009 DOWNLOAD NEW TDS RATE CHART FROM BELOW LINK Download TDS rate Charts 01.04.2009 to 30.09.209 and 01.10.209 to 31.03.2010 in PDF format In which cases surcharge on TDS rates is NOT applicable ? • On all payment to residents • On all payment to non-corporate non-residents • On all payments to foreign corporate if total payment is less than 1 Crore In which cases surcharge on TDS rates is applicable ? • On all payments to foreign corporate if total payment is more than 1 Crore In which cases Education Cess, Secondary and Higher Education Cess is NOT applicable ? • On all payments to residents except salaries payment In which cases Education Cess, Secondary and Higher Education Cess is applicable ? • On salaries • On all payment to non-residents and foreign companies
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Categories : INCOME TAX | TDS

Comments
Manjuanth September 18, 2009

thankyou for updating me,

rgds
Charted king

admin September 22, 2009

thanks Chartered KING

BHRANTI October 3, 2009

sending here with tds ded. new rate

ASHOK MUNDHADA October 7, 2009

Dear Sir

In new rate chart pl clerify that tds rate w.e.f. 1.10.09 for interest other than interest on securities in case of Companies whether it is 10% or 20%
As far my knowledge it is 20%
so please clerify and oblidge on C. A. Club site all are giving 20%

thanks and Regards
Ashok

admin October 7, 2009

yes ,there is very big confusion but the correct rate is 10 % kindly read finance act 2009 (2) part II at sr no 2 at following link
http://www.simpletaxindia.org/2009/08/finance-no-2-act-2009-assented-by.html
regarding CA club i have tried to post correct rate at as many forum as i can .But so many persons are sending so many queries on CA CLUB so each can not be replied.

Kavindra kumar arya October 8, 2009

Thank you for updating me

Kavindra kumar arya October 8, 2009

Dear sir,
Pls Clear Me what TDS will be Ded. Per Month when Salary Is Rs.50000/-

Thanks in Advance

admin October 8, 2009

First you have to calculate taxable part of the salary out of 50000/- suppose employee save 100000 u/s 80C then taxable salary will be 50000*12-100000-(other non taxable allowances)=500000 on 500000 tax due is 14000+40000=55000plus surcharge 3 % so on a average base 4500 is correct .Further deductor can adjust tax deduction amount according to change in salary

a salary income calculator is given at following link which may be help full for you
http://www.simpletaxindia.org/2009/07/downlaod-income-tax-calculator-fy-09-10.html

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