Changes in Finance Act. [TDS] in Tally.ERP9

As per Finance Act, for the Financial Year 2009-10 surcharge or Cess is not applicable for TDS with effective from 1st April, 2009. For tax deduction only the specified TDS rates are considered.

Changes in the Surcharge and Cess are applicable as follows.

Nature of payment

Whether surcharge is applicable

whether education cess  @ 2% and secondary and higher education cess @ 1% is applicable

Salary to a resident or non resident

No

Yes

Payment other than salary to a resident

No

No

Payment other than salary to a non-resident not being foreign company

No

Yes

Payment other than salary to a foreign company (payment or credit subject to TDS does not exceed Rs.1 Crore)

No

Yes

Payment other than salary to a foreign company (payment or credit subject to TDS exceeds Rs.1 Crore)

Yes @ 2.5% of TDS

Yes

 

Note: Surcharge/ Cess changes are provided in Stat Version 90 for Tally.ERP 9 Release 1.5. The Transactions recorded prior to Stat Version 90 in Tally.ERP 9 (earlier releases) will  have the Surcharge and Cess amount deducted. Such Deducted Surcharge and Cess can be claimed as returns from the Income Tax Department by the Deductee.

 

 

 

 

Tally.ERP 9 Help LIBRARY
Short Cut Keys Command in Tally.ERP9
Reorder Levels & Reorder Quantity
Price Lists in Tally.ERP 9
Point of Sale (POS) in Tally.ERP 9
Job Costing in Tally.ERP 9
Interest Calculations in Tally.ERP 9
Features (F11) of Tally.ERP 9
Configuratioin (F12) of Tally.ERP 9
Data Migration in Tally.ERP 9
Cost Categories and Cost Centers
Budgets in Tally.ERP 9
Advanced Inventory Features
Advanced Accounting Features
Self-Running Tutorial with Audio
F.A.Q. Knowledgebase in Tally.ERP 9
Sample Reports @ Tally.ERP 9
Tips on Tally.ERP 9
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Installation of Tally.ERP9
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Shortcut Keys in Tally.ERP9
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Service Tax in Tally.ERP9
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Tax Collected at Source (TCS) in Tally.ERP9
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Tax Deducted at Source (TDS) in Tally.ERP9
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