30 of exp.

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

15 July 2014 as per latest budget if TDS not deducted then 30 % of exp. shall be disallowed now my question is on which portion 30% shall be disallowed.
suppose exp.1,00,000
service tax 12,360
total exp. 1,12.360
or
if TDS short deducted then what will be consequences.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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16 July 2014 Rs 100000 expense will be disallowed

Querist : Anonymous

Querist : Anonymous (Querist)

16 July 2014 i want to know that total amount or excluding service tax amount 30% shall be disallowed.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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16 July 2014 Dear friend,

the expense is disallowed. The impact of the same is measured at the tax rate. Service tax is to be excluded.

Nischit Sanghavi

Nischit Sanghavi (Expert)
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16 July 2014 As per amendment made on 14th January 2014, TDS is not required to be deducted on the amount of service Tax. It should be excluded to computing the amount of TDS. In your case amount would be Rs.100000/-

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