Is the new tax rate @ 10% will now apply for Professional?

Which new tax rate @10% you are talking about?

If it is Income Tax slab rate, it is applicable to all across the board without exception. (please note that it is slabwise).

If you mean to say that rate of TDS (Pl. note that it is not tax rate,but rate for making Tax deduction at Source only) then it is applicable to payment to professional s also.

i think so, but you have to check on that. not 100% sure. good luck

I dont think so..

U mean TDS
W.e.f 1.6.07 ,TDS @10% u/s 194J

ya it has been now revised and is 10% + Surcharge @10% + Education Cess @3%

it is only tds and not final tax.the tds is deducted at source under section 194J of the Income Tax Act

W.e.f. 01.06.2007 for Section 194H and 194J the rate of TDS is 10%. Prior to this date the rate was 5%.

Surcharge and Education Cess is also applicable as per Income Tax rules

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