deduction of tds on what amount?
This query is : Resolved
CMA Ankur Pandey
(Querist)
07 February 2009
hello .
i want to pay a sum to my contractor against his bill.the bill amount is of Rs.500000,how i will deduct tds(on what amount),what will be service tax
(on what figure).Is tds is calculated on the amount including service tax...please give me true picture of tax laws.with any notification or clarification by department.its urgent .
Regards
CMA Ankur Pandey
i want to pay a sum to my contractor against his bill.the bill amount is of Rs.500000,how i will deduct tds(on what amount),what will be service tax
(on what figure).Is tds is calculated on the amount including service tax...please give me true picture of tax laws.with any notification or clarification by department.its urgent .
Regards
CMA Ankur Pandey
07 February 2009
Income Tax is to be deducted on the gross amount of the bill. Pl see section 194C of the Income Tax Act,1961.
CMA Ankur Pandey
(Querist)
07 February 2009
plz clarify ....tds is deducted on the amount included service tax?
CMA Ankur Pandey
(Querist)
07 February 2009
plz clarify ....tds is deducted on the amount included service tax?
CA. B.SRINIVASULU
(Expert)
07 February 2009
TDS should be deducted after including the service tax.
CA Nitin Wadhwani
(Expert)
07 February 2009
Yes.
TDS is to be deducted on the gross amount i.e including service tax.
TDS is to be deducted on the gross amount i.e including service tax.
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