TDS
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 May 2011
Hi
We purchase software license from X Ltd. Details of the same -
Base Price = Rs.1000
Service Tax on above = Rs.103
VAT (on BP + ST) = Rs.44
Total (invoice value) = Rs.1147
TDS [(1147-44)*10%]= 110
Whether the above procedure followed by client in right?
Why in computing VAT ST included? Why in computing TDS VAT portion alone eliminated? Whether those are requirement of act? If so, help me out in knowing the same.
Thanks and Regards
VS
We purchase software license from X Ltd. Details of the same -
Base Price = Rs.1000
Service Tax on above = Rs.103
VAT (on BP + ST) = Rs.44
Total (invoice value) = Rs.1147
TDS [(1147-44)*10%]= 110
Whether the above procedure followed by client in right?
Why in computing VAT ST included? Why in computing TDS VAT portion alone eliminated? Whether those are requirement of act? If so, help me out in knowing the same.
Thanks and Regards
VS
18 May 2011
If this is a repair & maintenance, then it is a type of contract. so, TDS will charged u/s 194C. then TDS will be charges on total amount inclusive of everything.
but if this treated as rent u/s 194I, thern TDS will only be charge on rental amount.
but if this treated as rent u/s 194I, thern TDS will only be charge on rental amount.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- House Property Reporting in ITR
- TDS Claim year
- Relief u/s Section 89
- Rent lease agreement
- TDS Challan Code
- CCFS 2026 Schemed
- Entries in AIS regarding sale of units and shares
- Lease agreement and tax on sale
- STCG on ETF gold & silver
- If there is Long term capital gain exists how much total income to be considered
- Sales amount in Gstr1
- Is it compulsory to File 10E if Income including Pension Arrears is below 12 Lakh for the F Y 25 26
- Suggestions required for income tax filing-software (FY 2025-26)
- Tax liability on income of freelancer
- Is E Way Bill Valid If Transport ID Not Mentioned in PART A But Vehicle details mentioned in PART B
- Section 43B(h) – MSME Invoice Paid Before Year End but After 45 Days
- Taxation on LTCG for property sold after 24JUL2024
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
