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Discussion > Income Tax > TDS >

Tds on services rendered

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Articled Clerk


[ Scorecard : 56]
Posted On 03 November 2008 at 16:13 Report Abuse

Dear All,

I am working in software company.We had subscribed to access the Timesjob employment portal.

The charges payable for such services is Rs.70000.00 inclusive of service tax.

Kindly clarify whether Tds is payable on the amount and if so at what rate?


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CA Abhash Mishra
Chartered Accountants


[ Scorecard : 582]
Posted On 03 November 2008 at 16:34

Yaa TDS will have to deducted on that payment. u have to deducted @ 2.06% on hole (including service tax), it is a contratoral situation.

Thanks

Abhash





sangeetha
Articled Clerk


[ Scorecard : 56]
Posted On 03 November 2008 at 16:51

Thanks




Shudhanshu Agrawal
CA Final and CS Final


[ Scorecard : 2438]
Posted On 03 November 2008 at 17:31

You also need to consider Surcharge as i think surcharge willbe applicable in the situation. So, Total rate willbe 2.267%.




Shudhanshu Agrawal
CA Final and CS Final


[ Scorecard : 2438]
Posted On 03 November 2008 at 18:20

Originally posted by :Shudhanshu
" Yeah the rate of TDS willbe 2.06% "


 




Ramakrishna
Financial Executive


[ Scorecard : 433]
Posted On 03 November 2008 at 21:01

Dear Sudhanshu!

SURCHARGE when leviable:

Ø  The amount of income tax, so computed has to be increased by a Surcharge of 10%, if the payee, lessee or license holder, happens to be a Company, Firm, and their total income exceeds Rs. 1 Crore during the financial year.

Ø  In case the payee, lessee or licensee happens to be Individuals, Hindu Undivided Families, Association of Persons, Body of Individuals, if their total income exceeds Rs. 10 Lakhs then their cases are also subject to the levy of surcharge at 10%.

Ø  In the case of any artificial juridical person, surcharge is recoverable on any payment made without any limits.

Ø  In other cases, there is no surcharge. That means, if the payee, is a Co-operative Society or Local Authority, then no Surcharge is leviable irrespective of the amount paid.

 

Good Bye! Cheers!!




sangeetha
Articled Clerk


[ Scorecard : 56]
Posted On 04 November 2008 at 10:45

Thanks for the info.

I have one more question.What is the Tds rate applicable on Amount paid to COLDCON for AMC of Air conditioners?Is it 2.06%




Devendra
Qualified Audit Assistant


[ Scorecard : 521]
Posted On 04 November 2008 at 10:56

Amount paid to COLDCON for AMC for Air conditioner will come under the purview of Section 194C and will attract TDS @ 2.06 % subject to applicability of surcharge.




sangeetha
Articled Clerk


[ Scorecard : 56]
Posted On 04 November 2008 at 11:44

Thanks Devendra




Mahesh
Accounts Executive


[ Scorecard : 20]
Posted On 05 November 2008 at 13:24

Originally posted by :sangeetha
" Dear All,
I am working in software company.We had subscribed to access the Timesjob employment portal.
The charges payable for such services is Rs.70000.00 inclusive of service tax.
Kindly clarify whether Tds is payable on the amount and if so at what rate?
"


Yes you have deduct TDS on the Total Charges (Including Service tax). and If you may have contract or maynot you have deduct 11.33% because it comes under consultation charges catagory.

The Times jobs is a company, ( Corporate) so you have deduct 11.33% instead of 2.06%.( this 2.06% is applicable only for individuals)



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