TDS DEDUCTION
This query is : Resolved
Kumar Agarwala
(Querist)
03 February 2009
WHETHER TDS IS TO DEDUCTED ON ONLY BILL AMOUNT CREDITED OR BILL AMOUNT INCLUDING SERVICE TAX INCLUDED, SUPPOSE BILL AMOUNT 50000/- AND SERVICE TAX RS 6000/- WHETHER TDS DEDUCTED ON 50000/- OR 56000/- PLEASE EXPLAIN ALONG WITH SECTION
03 February 2009
TDS in case of Rent only we have to exclude service tax.In other cases TDS is to be deducted on bill amount(i.e inclusive of service tax).
For ex: If Professional Charges is Rs.19500 on it service tax is Rs.2410 since the total exceeds Rs.20000(i.e.Rs21910) Tds is to be deducted.
So,TDS is to be deducted on Rs.56000
For ex: If Professional Charges is Rs.19500 on it service tax is Rs.2410 since the total exceeds Rs.20000(i.e.Rs21910) Tds is to be deducted.
So,TDS is to be deducted on Rs.56000
Kumar Agarwala
(Querist)
03 February 2009
IN CASE OF RENT SERVICE TAX IS EXCLUDED, IS THERE ANY CIRCULAR OR SECTION REFERENCE PLEASE TELL THIS ALSO
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