21 August 2014
FOR DOLBY AUDIO SYSTEM WE HAVE RECEIVED A BILL OF RS.29,931/- TOWARDS LICENSE KEY THEY HAVE ALSO CHARGED SERVICE TAX @12.36% ON ABOVE I WANT TO KNOW WHETHER TDS IS DEDUCTIBLE ? AT WHAT RATE AND UNDER WHICH SECTION ?
22 August 2014
First of all you didn't tell the status of you. are you company, HUF or individual or someone else? if individual you need to be u/s 44AB audit requirement then only you need to deduct TDS. anyway I believe that you are covered with TDS so the answer is if there is no other bill in that year then no TDS. as this is covered u/s 194J and bill is less than 30,000/- so TDS not applicable but if bill is above 30,000/- then TDS would be applicable
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