Answer / venu gopal

There is no fixed % on salaries whereas the Tax is
dedcuted on salaries slab it may be 10%, 20% 30% as per the
earinging in a financial year

Answer / mahesh

There is no any condition to deduct the tax from Salary,it
may different rates based on income earned & tax benefit
scheme took by the employee. Employee must submit the
information about the same to accounts department so they
can decide the rate of deduction.


ma.shimpi@gmail.com

Answer / madhu

We have the Following like TDS for companies,TDS for Non
companies,TDS on Rent etc but on salaries we calculate
baec on the Income slab like how much ur earning.

Answer / ranjith

1. The rate of deduction of tax at source w.e.f. 1st April,
2007 are as under :
(i). Payment to Contractors
Tax : 2%
Surcharge : 10% of Tax
Education Cess : 3% of tax and surcharge.

Hence over all rate will be 2.266% if surcharge is
applicable otherwise the rate will be 2.06%.

(ii). Payment to Sub-Contractor
Tax : 1%
Surcharge : 10% of Tax
Education Cess : 3% of Tax & surcharge
Hence over all rate will be 1.133%, if surcharge is
applicable and otherwise it will be 1.03%.

(iii). Payment of interest
A. If paid to a person other than a company
Tax : 10%
Surcharge : 10% of tax
Education Cess : 3% of Tax & Surcharge
Overall TDS rate : 11.33% if surcharge is applicable and
otherwise 10.30%.

B. If paid to a company
Tax : 20%
Surcharge : 10% of Tax
Education Cess : 3% of tax and surcharge
Overall TDS rule : 22.66% if surcharge is applicable and
otherwise 20.60%.

(iv). Payment for Professional/Technical
Services/Commission/ Brokerage
From 01.04.2007 to 31.05.2007
From 01.06.2007 onwards
Tax Rate 5%
Tax Rate 10%
Surcharge 10%
Surcharge 10% Tax
Education Cess 3% of the Surcharge
Education Cess : 3% of Tax & Surcharge
Overall TDS Rate 5.665% if surcharge is applicable
otherwise 5.15%
Overall TDS rate 11.33% if surcharge is applicable,
otherwise 10.30%





(v). Payment of Rent for Land and Building
A. If paid to an individual or HUF
Tax Rate : 15%
Surcharge : 10% of Tax
Education Cess : 3% of tax & surcharge
Overall TDS rate : 16.995% if surcharge is applicable
otherwise
15.45%

B. If paid to a person other than individual or HUF
Tax Rate : 20%
Surcharge : 10% of Tax
Education Cess : 3% of Tax & Surcharge
Overall TDS Rate : 22.66% if surcharge is applicable
otherwise 20.60%

(vi). Payment of Rent for Plant and Machinery
From 01.04.2007 to 31.05.2007
From 01.06.2007 onwards
Tax Rate: 15% if paid to individual or HUF
: 20% if paid to a person other than Individual and HUF
Tax Rate : 10% for all
Surcharge :10%
Surcharge 10% Tax
Education Cess : 3% of Tax and Surcharge
Education Cess : 3% of Tax & Surcharge

Overall TDS Rate :16.995% or 22.66% if surcharge is
applicable otherwise 15.45% or is 20.60%
Overall TDS rate 11.66% if surcharge is applicable,
otherwise 10.30% 6 months ago

Answer / sanjay kumar

Rate TDS on
for(Company):
@20%--Interest on Security @2%Cess till 10.05.07
@20%--Interest on Security @3%Cess from 11.05.07

@20%--Int.other than Int.on Security @2% Cess till 10.05.07
@20%--Int.other than Int.on Security @3% Cess from 11.05.07

@30%--Winning from Lotteries, Cross Puzzule @2% Cess till
10.05.07
@30%--Winning from Lotteries, Cross Puzzule @3% Cess from
11.05.07

@30%--Winning from Horse Race @2% Cess till 10.05.07
@30%--Winning from Horse Race @3% Cess from 11.05.07

@1%--Contractor or Sub-Contr.(in case Adv.Cont.)@2% Cess
till 10.05.07
@1%--Contractor or Sub Contr.(in case Adv.Cont.)@3% Cess
till 11.05.07

@2%--Contr or S-Contr.(in case other than Adv.Cont.)-@2%
Cess till 10.05.07
@2%--Contr or S-Contr.(in case other than Adv.Cont.)-@3%
Cess till 11.05.07

@5%--Commission or Brokerage till 31.05.07 @2% Cess till
10.05.07
@5%--Commission or Brokerage till 31.05.07 @3% Cess from
11.05.07
@10%-Commission or Brokerage fm 01.06.07 @3% Cess from
11.05.07

@20%--Rent @2% Cess till 10.05.07
@20%--Rent @3% Cess from 11.05.07

@10%--Rent on Plant & Machinery @2% Cess till 10.05.07
@10%--Rent on Plant & Machinery @3% Cess from 11.05.07

@5%--Profesnl Charges/Tech.Charges till 31.05.07 @2% Cess
till 10.05.07
@5%--Profesnl Charges/Tech.Charges till 31.05.07 @3% Cess
from 11.05.07

@10%--Profesnl Charges/Tech.Charges fm 01.06.07 @3% Cess
from 11.05.07


for(Individual):
@10%--Interest on Security @2%Cess till 10.05.07
@10%--Interest on Security @3%Cess from 11.05.07

@10%--Int.other than Int.on Security @2% Cess till 10.05.07
@10%--Int.other than Int.on Security @3% Cess from 11.05.07

@30%--Winning from Lotteries, Cross Puzzule @2% Cess till
10.05.07
@30%--Winning from Lotteries, Cross Puzzule @3% Cess from
11.05.07

@30%--Winning from Horse Race @2% Cess till 10.05.07
@30%--Winning from Horse Race @3% Cess from 11.05.07

@1%--Contractor or Sub-Contr.(in case Adv.Cont.)@2% Cess
till 10.05.07
@1%--Contractor or Sub Contr.(in case Adv.Cont.)@3% Cess
till 11.05.07

@2%--Contr or S-Contr.(in case other than Adv.Cont.)-@2%
Cess till 10.05.07
@2%--Contr or S-Contr.(in case other than Adv.Cont.)-@3%
Cess till 11.05.07

@5%--Commission or Brokerage till 31.05.07 @2% Cess till
10.05.07
@5%--Commission or Brokerage till 31.05.07 @3% Cess from
11.05.07
@10%-Commission or Brokerage fm 01.06.07 @3% Cess from
11.05.07

@15%--Rent @2% Cess till 10.05.07
@15%--Rent @3% Cess from 11.05.07

@10%--Rent on Plant & Machinery @2% Cess till 10.05.07
@10%--Rent on Plant & Machinery @3% Cess from 11.05.07

@5%--Profesnl Charges/Tech.Charges till 31.05.07 @2% Cess
till 10.05.07
@5%--Profesnl Charges/Tech.Charges till 31.05.07 @3% Cess
from 11.05.07
@10%-Profesnl Charges/Tech.Charges fm 01.06.07 @3% Cess
from 11.05.07

(INCOME TAX)for F.Y.2008-2009

RATE INDIVIDUAL<65 WOMEN<65 S.CITIZEN>65
@nil 0-150000 0-180000 0-225000
@10% 150001-300000 180001-300000 225001-300000
@20% 300001-500000 300001-500000 300001-500000
@30% 500000-above 500000-above 500000-above

Answer / dinesh tiwari

THE meaning of t.d.s is tax deducted at source it is the
tax which is deducted at source onthe income earned there
are different type of rate for deducted the salary such as
10%,20%,30% but generally rate 3% is used by the
organizations or company's

Answer / ravindra

THE meaning of t.d.s is tax deducted at source it is the
tax which is deducted at source onthe income earned
there are different types of rates generally rate is 3%

Answer / mona batra

10%basic rate 2% education cess and 3% surcharge thereof

What are the matheods of calculating the Head under Salaries U/s 60(c)?????

1 Answers   GE,

Salary A/c Dr (Gross) 10000.00 Salay payabe A/c Cr 9825.00 ESI Payable A/c Cr 650.00 ESI Employer Cont. Dr. 475.00 or Salary A/c Dr (Gross) 10000.00 Salay payabe A/c Cr 9825.00 ESI Payable A/c Cr 175.00 which is correct entry above entries ?

5 Answers  

which contractors does not deducted tds ?

6 Answers  

what are accounting principles

0 Answers  

1.What is the meaning of tranfer income?

2 Answers   Infosys,

what is meant by MIS reporting?

2 Answers  

Section of rant in TDS.

8 Answers   TCS,

what is cenvet credit in vat.

0 Answers   Mediocre, Nabard, RBI,

What is total income?

0 Answers  

HOW CAN TAKE THE MAXIMUM GRAUITY (EX RS.3.5 LAC)

0 Answers  

HOW TO CALCULATE INTEREST ON PREVIOUS SELF ASSESSMENT TAX ?

1 Answers   Wipro,

If we purchase material against Form-C from Mumbai and two address mentioned in the invoice i.e.invoiced address - Delhi and Shipped address-Banglore(material delivered address).So,from-C should be issued from which state.

3 Answers