There is no change in contract payments from 2007-08 to
2008-09 as it stands at 2% and applicable surcharge and ec.
Whereas Tech. & Prof. services rates changed from 5% to 10%
along with appl. s.c. and ec. Likewise, Rental TDS also
changed to 20% alongwith applicable s.c. and ec.
The question itself is not having clarity. TDS Rates for
what? There are so many groups of TDS rates.
TDS on Contract Payment is 2%
TDS on Tech. & Prof. Services is 10%
TDS on Rentals is 20%
On all the above 10% s.c. will be charged in case of
individuals if gross billing crosses 10 lacs per annum, in
case of domestic companies 10% s.c. will be charged if
gross amount crosses 1 crore per annum and in case of
foreign companies s.c. @ 2.5% will be charged if gross
amount crosses 1 crore otherwise there is no sur charge.
On all the above cases, 3% Edn. cess is common