How to show consultancy fee received (gross or net of st)?
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
31 July 2014
Dear Expert,
My client is providing technical consultancy services.
His total Consultancy fee is 45 lacs (net of Service tax),
Now tax audit is applicable,
whether i have to show consultancy fee amount at gross ( including service tax ) in income & expenditure A/c or net amount?
pls. reply
Thanks
My client is providing technical consultancy services.
His total Consultancy fee is 45 lacs (net of Service tax),
Now tax audit is applicable,
whether i have to show consultancy fee amount at gross ( including service tax ) in income & expenditure A/c or net amount?
pls. reply
Thanks
01 August 2014
Show net amount in ITR4 in
1(A)-Sales/ Gross receipts of business (net of returns and refunds and duty or tax, if any, Under (ii) Sale of Services
Then Show Service Tax amount in 1(B)Duties, taxes and cess, received or receivable, in respect of goods and services sold or supplied, under (ii) Service Tax.
Then again show service tax in -36 Rates and taxes, paid or payable to Government or any local body (excluding taxes on income)
under Service Tax.
1(A)-Sales/ Gross receipts of business (net of returns and refunds and duty or tax, if any, Under (ii) Sale of Services
Then Show Service Tax amount in 1(B)Duties, taxes and cess, received or receivable, in respect of goods and services sold or supplied, under (ii) Service Tax.
Then again show service tax in -36 Rates and taxes, paid or payable to Government or any local body (excluding taxes on income)
under Service Tax.
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