Pvt.ltd.

This query is : Resolved 

27 March 2009

Dear Members...

I want to know the benefit of create a Pvt.ltd.co. against properitorship or partnership business.


27 March 2009 Dear All,

Please let me know , whether TDS is to be deducted on Gross amount of bill or excluding service tax?

27 March 2009 Only for rent service tax is excluded and for all others service tax has to be added and on the final bill tds has to be deducted.

27 March 2009 Benefit of creating a private limited company is.

(1) Limited Liability
(2) Obtaining loans will be easier for busniness.
(3) Directors can get salary.

27 March 2009 It should be deducted on gross amount.

27 March 2009 deducted on gross amount.

27 March 2009 for 194I - net amount xcluding service tax as the act contains the term "rent payable".

for other section including 194J- on Gross amount as the act contains "any sum payable"

27 March 2009 1) Limited Liability
(2) Obtaining huge capital will be easier for busniness.
(3) Directors can get salary.

28 March 2009 agreed with all above

28 March 2009 All the taxes are to be excluded.
Tax is to be deduted on the payment made for services, contract, rent etc.
Tax is not a payment made for any of these things, it is a statutory levy. On this amount TDS should not be deducted.

30 March 2009 Regarding TDS, I agree only with Mr.B. Srinivas.


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