Software
This query is : Resolved
23 September 2014
Is tds to be deducted on the invoice value exclusive of service tax or inclusive
of service tax?? plz rpl at d earliest
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 September 2014
I want to undertake some software development work as a individual, how I will deduct TDS as an individual .Kindly guide me
23 September 2014
TDS to be deducted on amount excluding service tax for all sections. The CBDT has issued Circular No. 1/2014 dated 13.01.2014 pointing out that the Rajasthan High Court has taken the view in CIT(TDS) vs. Rajashthan Urban Infrastructure that if as per the terms of the agreement between the payer and the payee, the amount of service-tax is to be paid separately and was not included in the fees for professional services or technical services, no TDS is required to be made on the service-tax component u/s 194J of the Act. Pursuant thereto, the CBDT has decided in exercise of powers u/s 119 that wherever the terms of the agreement/ contract between the payer and the payee, the service tax component comprised in the amount is indicated separately, tax shall be deducted at source under Chapter XVII-B of the Act on the amount paid/payable without including such service tax component. Complete notification may be seen from below link-- https://law.incometaxindia.gov.in/DIT/Circulars.aspx
23 September 2014
An Individual is required to deduct TDS only if his file was subject to Tax Audit in previous Financial Year.
24 September 2014
tds is to be deducted from net of sertice tax amount. there is no need to deduct from service tax amount also
24 September 2014
tds is to be deducted from net of sertice tax amount. there is no need to deduct from service tax amount also
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