Dear Members,
AS per the new notification No. 1 of 2014 there is no need to deduct TDS on service tax element in case of rent and proffessional service is it the case or there are exceptions to it..
Saurabh Jain (Chief Accounts Officer) (39 Points)
07 July 2014Dear Members,
AS per the new notification No. 1 of 2014 there is no need to deduct TDS on service tax element in case of rent and proffessional service is it the case or there are exceptions to it..
Deepak Gupta
(CA Student)
(15922 Points)
Replied 07 July 2014
Not just section 194I/194J. The aforesaid circular is applicable to other sections as well.
.
Para 3 of the said circular states that, (extract) ……tax shall be deducted at source under Chapter XVII-B of the Act on the amount paid/payable without including such service tax component.
The statutory provision regarding deduction of tax at source is dealt in Chapter XVII of the Income-tax Act, 1961 which gives the details of the relevant provision of TDS.
.
Chapter XVII - COLLECTION AND RECOVERY OF TAX
A --- General
B --- Deduction at source
BB - Collection at source
C --- Advance payment of tax
D --- Collection and recovery
E --- Tax payable under provisional assessment
F --- Interest chargeable in certain cases
G --- Levy of fee in certain cases
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