Tds and service tax
This query is : Resolved
dipesh mehta
(Querist)
02 April 2012
Suppose I raise a bill of Rs.10 on which 10.3% is service tax +edu etc...so total amount is Rs.10.3....now tds is to be deducted on 10.3 or gross amount i.e 10..
CA Kishore Tallam
(Expert)
02 April 2012
Dear Dipesh,
If the invoice is in respect of Renting of Immovable Property, then TDS will be on Rs. 10. If the invoice is in respect of a service other than renting of immovable property, then TDS will be on Rs. 10.30.
If the invoice is in respect of Renting of Immovable Property, then TDS will be on Rs. 10. If the invoice is in respect of a service other than renting of immovable property, then TDS will be on Rs. 10.30.
02 April 2012
If the bill is for rent, then TDS shall be deducted only on the rental amount. Service tax amount shall not be considered for such deduction.
If the bill is for professional service or contract payment, then the TDS shall be deducted on the total bill amount including service tax.
Read circular 4/2008 dated 28.03.2008.
If the bill is for professional service or contract payment, then the TDS shall be deducted on the total bill amount including service tax.
Read circular 4/2008 dated 28.03.2008.
dipesh mehta
(Querist)
02 May 2012
CAN YOU MAIL ME THIS NOTIFICATION WHICH SAYS TDS TO BE DEDUCTED ON NET AMOUNT.AS I NEED TO CONVIENCE MY SIR.dipesh05@yahoo.com
09 May 2012
https://law.incometaxindia.gov.in/DIT/File_opener.aspx?page=CIR&schT=&csId=971b8564-fdc1-4d9e-9bbe-1b44a969643a&crn=&yr=2008&sch=&title=Taxmann%20-%20Direct%20Tax%20Laws
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