Section 195 (tds) of it act, 1961
This query is : Resolved
27 July 2012
If an asseesee(Indian) is engaged in foriegn dealing and is liable to deduct TDS u/s 195 of IT Act,1961, then is that assessee suppose to deduct tax on the whole amount inclusive of the amount of service tax or he has to consider the amount on which tax is to be deducted exclusive of service tax?
27 July 2012
The plain reading of 195 says " ANY PAYMENT" Needless to add, the bill is received by your assessee. The amount in the bill qualifies for deduction.
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