Deduction of TDS with Charge, Income Tax

[Pradeep Jain]

Dear Sir,

We are engaging contractors who are giving services to us under Individual capacity.

We are not sure at the time of awarding contract that their services will exceed ₹ 1 cr. in one financial year.

Under such circumstances, in case we find in Mar-15 that a particular such contractor has provided services of more than ₹ 100 lacs and therefore we are liable to deduct surcharge @ 10% on TDS.

Our query is that, whether we are required to pay 10% surcharge on entire TDS deducted in the whole financial year (14-15) and pay? Whether it will be treated as default in payment of surcharge (TDS) and do we need to pay interest on delayed payment of surcharge?

Regards

Pradeep

Posts / Replies

[MARIAPPAN GOVINDARAJAN]

Whether you have got clarified in the above issue? If not please inform.