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Preliminary Exp

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Querist : Anonymous

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Querist : Anonymous (Querist)
27 December 2010 A public limited company issued preference shares.For marketing of the preference shares it used the services of a private company.The marketing company charged a some amount to the limited company.The limited company deducted TDS u/s 194C and paid the same.

1)Whether TDS u/s 194c is correct?
2)Under which service it will come in service tax?
3)Nature of expenditure,revenue Or capital?
4) Can it be a deferred revenue exp?
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CA Shailesh Kumar Bhagat

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CA Shailesh Kumar Bhagat (Expert)
27 December 2010 1. No, it will be civered under professional or technical service.

2. Service tax will not be applicable. However, If the pvt compnay has taken any service like advertisement or underwritting , these services will be taxable.

3.both

4. yes
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