Question { Wipro, 36442 }

What is the present rate of T.D.S and what is the tax for
person salary at present

Answer

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

Question { 7446 }

what do you mean by fringe benefit tax???

Answer

Employer expand some expenses on welfare to the staff then
government charge taxes on these expenses from the employer
firs value has been calculated on the expenses bearer by
the employee. rate are 5%, 20%, 50% applicable according to
nature of expenses
after calculating the value of fbt

now rate has been charged on value of fbt, the rate is 30%
plus 2% education cess and 1% secondary & higher education
cess
total rate is 33.90%