Tds % on contractual payment
This query is : Resolved
22 February 2012
Hi,
I am holding company which give educational franchisee to others. All faculties are on my payroll and franchisee give me salary of faculty against bill which I raise. My query is collecting salary amount from franchisee and deposit on faculty bank account, how much % TDS to be deducted. It should be % or 10%.?
I am holding company which give educational franchisee to others. All faculties are on my payroll and franchisee give me salary of faculty against bill which I raise. My query is collecting salary amount from franchisee and deposit on faculty bank account, how much % TDS to be deducted. It should be % or 10%.?
22 February 2012
you need to calculated TDS on your faculty person under 192
Client will deduct tds on your invoice u/s.194J- 10%
Client will deduct tds on your invoice u/s.194J- 10%
23 February 2012
Thanks for Reply Sir, Currently We are raising bill to franchisee is salary which is 100 Rs + Service Tax 10.3% which is Rs110.3. Now they are deducting 10 % on full amount. In this case they need to pay deducted TDS to Govt and service tax to us which we will deposit to Govt. Which cause additional amount is going to Govt by both parties. Can you suggest what we can do in this case to avoid this?
24 February 2012
TDS & Service tax both are different taxes.
TDS deduction is not loss, it is your tax payment to government only,it will reduce your tax burden, in case you are not coming in to tax net, the same will be refunded
Service tax is the actual payment to Govt . which cannot avoid by the service provider,. only it can be taken input set of by against the other services by the service receiver
TDS deduction is not loss, it is your tax payment to government only,it will reduce your tax burden, in case you are not coming in to tax net, the same will be refunded
Service tax is the actual payment to Govt . which cannot avoid by the service provider,. only it can be taken input set of by against the other services by the service receiver
24 February 2012
TDS & Service tax both are different taxes.
TDS deduction is not loss, it is your tax payment to government only,it will reduce your tax burden, in case you are not coming in to tax net, the same will be refunded
Service tax is the actual payment to Govt . which cannot avoid by the service provider,. only it can be taken input set of by against the other services by the service receiver
TDS deduction is not loss, it is your tax payment to government only,it will reduce your tax burden, in case you are not coming in to tax net, the same will be refunded
Service tax is the actual payment to Govt . which cannot avoid by the service provider,. only it can be taken input set of by against the other services by the service receiver
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
- Off Market debit and credit transaction
- Itr 1 processing
- Showing Gift from relative in ITR for this year
- ITR returnFY25-26
- ITR 2 Short Term gain & Long term gain
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Share accounting-->fifo - capital gain - period as per fifo?
- ITR selection for salaries and capital gain less than L
- Short Term Capital gain on shares bought and sold after 2018 onwards
- ITR 1: Details for showing Exempt Income
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- 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
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
