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Categories  >>  Accounting  >>  Taxation
 
 


 

 
 Audit interview questions  Audit Interview Questions
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 Taxation interview questions  Taxation Interview Questions
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Question
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.
 Question Submitted By :: R C Sharma
I also faced this Question!!     Rank Answer Posted By  
 
  Re: 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.
Answer
# 1
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 ?    2 Yes 4 No
Rajesh
 
  Re: 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.
Answer
# 2
Aggregate payments made to contractor exceeds Rs 10 lakhs 
per annaum the collect surcharge @10%
 
Is This Answer Correct ?    0 Yes 2 No
L.govinda.rao
 
 
 
  Re: 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.
Answer
# 3
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
Harrie007
 
  Re: 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.
Answer
# 4
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 ?    4 Yes 1 No
Manish Digwal
 

 
 
 
Other Taxation Interview Questions
 
  Question Asked @ Answers
 
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i want for essuing c form .what is the formalties for this according cst department  1
WHERE WE HAVE TO TAKE TDS RECEIVABLES IN THE BALANCE SHEET OR P&L A/C ? Wings-Customer-Care8
How you will verify a supplier's bill of payment?  1
When we make payment of custom duty through DEPB Licence against Import.we are a trading Unit. Can we pass on the 100% modvat to manufacturer as per mentioned in Bill of entry.  1
Write entry for interest receivable from bank Rs. 15000 TDS 2250. Datamatics15
what is the lat date of tds deposit for march 2009 ASSESSMENT YEAR 2009-10  4
pls provide Latest Slab of Profession Tax of year 2008-09  3
What is MAT? and whom its applicable and what its rate? Bank-Of-America2
If some service provider gives a bill having service tax. say cost of service is Rs 100, He is adding 12.36% sevice tax. Total comes 112.36. we have to deduct TDS @ 11.33%. On what amount we should deduct TDS? (on 100 or 112.36 ) Gammon14
any change in service tax rate 10.3%?  1
if i allow to deduct tds to another company from my income, in which situation i can getback from govt. is it possible to get back this tds amount?  1
I have made our pan card in delhi.so, i want to confirm that it is mandatory that I shall fill our income tax return in delhi  2
A Company income 150000, and an indivisoul which income 150000 who pay more tax ?  4
Can i take service tax on freight outward.  3
can i issue tax invoice or retail invoice in case of form 38(road permit) available and tin no. applied for and tax rate CST 2% or full 12.50%(seller delhi buyer haryana)  2
DEFINE 'SALES TAX, CORPORATE TAX, PROFESSIONAL TAX & INCOME TAX'? (please give accurate definitions dudes) Deloitte3
How much can I save U/S 80D to minimise my Tax Burden  2
Tds Rate for Rent for company. TCS8
WHAT IS THE DIFFERENCE BETWEEN TAX & TAXES? Deloitte2
 
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