Dear All,
What will be the TDS rate on Security Service.
Should Tds be deducted on Gross amount including Service Tax or service tax will be excluded?
Dheeraj Bhai Audichya (Accounts Officer) (66 Points)
04 February 2012Dear All,
What will be the TDS rate on Security Service.
Should Tds be deducted on Gross amount including Service Tax or service tax will be excluded?
CA Suraj Lakhotia
(IndigoLearn)
(4898 Points)
Replied 04 February 2012
TDS would be 1% for Ind/HUF and 2% for rest. Tax is to be deducted on the total bill amount including service tax.
Sanket
(!..Live to Give..!)
(16427 Points)
Replied 04 February 2012
| Originally posted by : CA Suraj Lakhotia | ||
 |
TDS would be 1% for Ind/HUF and 2% for rest. Tax is to be deducted on the total bill amount including service tax. |
 |
100% Agree with Suraj Sir.....
Giridhar S Karandikar
(Team Lead)
(7543 Points)
Replied 05 February 2012
But won't this amount to tax on tax?
david
(AUDITOR)
(24 Points)
Replied 05 February 2012
tds deducted on gross amount including servicetax.
at the rate of -
if payment made to indivisual/huf-1%
others-2%
Prateek Agarwal
(Sr. Executive - Finance & Accounts)
(1732 Points)
Replied 09 February 2012
Dear Giridhar,
It's not a tax on tax....since you get credit of Service Tax paid as Input Tax Credit.
The rate of dedcution stands at 1% for IND/HUF and 2% for others. The limit of 30,000/- for single payments or Rs. 75,000/- also applies.
Prateek
CAclubindia
