Tds on amc
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
19 February 2016
A pvt ltd., company has sent AMC bill for Rs.3,00,000. VAT @ 14.5% on 70% of Rs.3,00,000 and Service tax @14.5% on Rs.3,00,000. How much TDS is to be deducted. My contention is TDS @ 2% on Rs.90000, i.e, 300000-210000(VAT component 70%). Kindly clarify.
19 February 2016
Service tax applicable on 70% value only. TDS @ 2% to be deducted on 3,00,000. It is a works contract no break up for supplies in the bill.
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