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.
- 6 Answers
- 8797 Views
- Maruti Suzuki, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
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 |
When a company sold the material to is customer which is at another state under Form-C his bill was pertaining to first quarter but the customer received in second quarter. The customer will issue Form-C as per Invoice date or Material Received date.
what is sale entry, purchase entry, credit note , debit note entry?
5 Answers Aquasol, TCS, Wipro,
How many financial statements are there?
Please let me know..if we can deduct amount TDS for the payment made to travelling which amounts to Rs. 3702/-
what is the SAT?
what is the time limit of tax credit in sales return condition
when cash recd. for services rendered in the past: 1)owner equity increase 2)current assets increase 3)profit increase 4)none of the above
What is "Crossing the customs frontiers of india"? Please explain in layman language.
What is the VAT rate for Gold at present? How to calculate VAT for gold?
Which form we use for depositing works contract TDS?
what is Bank Stock Statement and which companies required bank stock statement, how can we make the bank stock statement
what is the meaning of provision for taxation
Audit 
