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    Oct 13, 2009

    Surcharge, Education Cess, SHEC for A.Y. 2010-2011

    There has been major changes with regard to surcharge, education cess, SHEC, after approval of the finance (No. 2) ACT, 2009. I have received so many queries aboutsurcharge and education cess rates and applicability for A.Y. 2010-2011. I classified this article so that everyone can understand in a very simple manner.

    All rates applicable w.e.f. 1-4-2009 in my view, although finance (No.2) Act approval date is 19th, Aug 2009.

    Surcharge on Income Tax: -

    Surcharge on income-tax for the assessment years 2009-2010 and 2010-11 will be as follows : -

    A.Y. 2009-10A.Y. 2010-11
    Individual/HUF/AOP/BOI ifnet income does not exceed Rs. 10 LakhNILNIL
    Individual/HUF/AOP/BOI ifnet income exceeds Rs. 10 Lakh10%NIL
    Artificial Juridical Person10%NIL
    Co-operative society, local authorityNILNIL
    Firm if net income does not exceed Rs. 1 CroreNILNIL
    Firm if net income exceed Rs 1 Crore10%NIL
    Domestic company if net income doews not exceed Rs. 1 CroreNILNIL
    Domestic company if net income exceeds Rs. 1 Crore10%10%
    Foreign Company if net incomedoes not exceed Rs. 1 CroreNILNIL
    Foreign Company if net incomeexceeds Rs. 1 Crore2.5%2.5%

    Surcharge, Education Cess in the case of TDS – For the F.Y. 2009-10, A.Y. 2010-11

    Nature of PaymentWhether surcharge isapplicableWhether education cess @ 2% and SHEC @ 1% isapplicable
    Salary to a Resident or Non – ResidentNOYes
    Payment other than salary to a residentNONO
    Payment other than salary to a non-resident not being foreign companyNOYES
    Payment other than salary to a foreign company (payment or credit subject to TDS does not exceed Rs. 1 CroreNOYes
    Payment other than salary to a foreign company (payment or credit subject to TDS exceeds Rs. 1 Crore)Yes @ 2.5 of TDSYes

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