Double taxation.
This query is : Resolved
06 October 2014
SIR, MY QUERRY IS RELATED TO SERVICE TAX AND INCOME TAX . SUPPOSE AN PROFFESSIONAL INSTITUTE PROVIDE SERVICE TO SOMEONE OF RS. 5000000 SO IN THIS CASE AS LIMIT CROSSES OF RS. 1000000 SERVICE TAX HAS BEEN LEVED SO ITS TAXED FIRST TIME AND THAT AFTER HE WILL PAY INCOME TAX SO IT WILL BE TAXED SECOND TIME SO MY QUERRY IS THERE ANY DOUBLE TAXATION ON RS. 5000000.
06 October 2014
the ans is no, as there is no double taxation.
firstly service tax is an indirect tax which is lieved on service provided and income tax is direct tax for earning income...both are independent.
firstly service tax is an indirect tax which is lieved on service provided and income tax is direct tax for earning income...both are independent.
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06 October 2014
Service tax is passed on to the service receiver whereas you have to bear the income tax.
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