Calculation of tds deduction
This query is : Resolved
Abhishek Roy
(Querist)
14 March 2018
Hi Everyone,
Though we already know the fundamentals of TDS and its necesssities.
But most of the people find difficulties in calculating the tds on the transaction amount & it's accounting treatment & the manner in which Income tax as well as Indirect tax (service tax/vat/excise/customs/gst as a whole) gets segregated.
Due to lack of Knowledge of these basic principles, a candidates faces difficulties and somehow don't get selected in the interviews of their dream companies.
I have shared it as because, as I am the one of them who faced this consequences & believe me folks once you realize it, you will feel the pain for not getting selected for the mistake made at a glance.
So do clarify is tds is calculated on pre gst of (Goods/Services) transaction amount.....................?
Though we already know the fundamentals of TDS and its necesssities.
But most of the people find difficulties in calculating the tds on the transaction amount & it's accounting treatment & the manner in which Income tax as well as Indirect tax (service tax/vat/excise/customs/gst as a whole) gets segregated.
Due to lack of Knowledge of these basic principles, a candidates faces difficulties and somehow don't get selected in the interviews of their dream companies.
I have shared it as because, as I am the one of them who faced this consequences & believe me folks once you realize it, you will feel the pain for not getting selected for the mistake made at a glance.
So do clarify is tds is calculated on pre gst of (Goods/Services) transaction amount.....................?
KAVIRAJA ADDANGADI
(Expert)
14 March 2018
Yes TDS to be deducted on Net before tax .Applicable Nature of deduction and applicable %
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