Tds
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 April 2014
Dear Sir
I Received bill for the month of april 2014 bill amt 10,000 and servicetax 1236, total bill amt 11,236, in the case of contractor 2% on which amt we will be tds calculate
amt 10,000 or 11236
I Received bill for the month of april 2014 bill amt 10,000 and servicetax 1236, total bill amt 11,236, in the case of contractor 2% on which amt we will be tds calculate
amt 10,000 or 11236
03 April 2014
TDS is deductible on Rs.11236
CA Jitender Sharma
(Expert)
04 April 2014
Dear,
You need not to deduct tds on Service tax portion as per CIRCULAR NO. 1/2014 [, DATED 13-1-2014
( TDS under Chapter XVII-B of the Income-tax
Act, 1961 on service tax component comprised in the payments made to residents)
Hence you need to deduct tds on Rs10000/-
You need not to deduct tds on Service tax portion as per CIRCULAR NO. 1/2014 [, DATED 13-1-2014
( TDS under Chapter XVII-B of the Income-tax
Act, 1961 on service tax component comprised in the payments made to residents)
Hence you need to deduct tds on Rs10000/-
04 April 2014
Hi Jitendra,
This circular (1/2014) is for TDS deducted u/s 194J (i.e. professional / technical services) and not for section 194C (contract payment)
Hence in present case tax will be deducted on Rs. 11236 only
This circular (1/2014) is for TDS deducted u/s 194J (i.e. professional / technical services) and not for section 194C (contract payment)
Hence in present case tax will be deducted on Rs. 11236 only
CA Jitender Sharma
(Expert)
04 April 2014
Sir,
Circular applies for all TDS provisions under chapter XVIIB. not for specific sections.
Circular applies for all TDS provisions under chapter XVIIB. not for specific sections.
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