Tds deduction
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 January 2014
SIR,
EX.SUPPOSE I HAVE BILL OF RS.100 AND SERVICE TAX ON IT 12 SO TOTAL IS 112..
SO MY QUERY IS THAT ON WHICH AMT SHOULD I DEDUCT TDS ON 100 OR ON 112..??
THANKS
EX.SUPPOSE I HAVE BILL OF RS.100 AND SERVICE TAX ON IT 12 SO TOTAL IS 112..
SO MY QUERY IS THAT ON WHICH AMT SHOULD I DEDUCT TDS ON 100 OR ON 112..??
THANKS
14 January 2014
It will depend upon under which section of Income Tax Act, TDS has been attracted.
If the section says that TDS has to be deducted on any sum paid, then TDS has to be deducted including service tax amount.
For example as in the case of Sec 194C - Payment to Contractors & Subcontractors.
While if the section says that TDS should be deducted on the amount of "income" paid, then TDS is deducted after excluding the service tax amount.
For example Sec 194D - Insurance Commission
If the section says that TDS has to be deducted on any sum paid, then TDS has to be deducted including service tax amount.
For example as in the case of Sec 194C - Payment to Contractors & Subcontractors.
While if the section says that TDS should be deducted on the amount of "income" paid, then TDS is deducted after excluding the service tax amount.
For example Sec 194D - Insurance Commission
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