Tds on local conveyance
This query is : Resolved
30 April 2014
whether TDS is deducted on local conveyance paid to a professional service provider? if yes than on what rate , 10% or 1%/2% ?
30 April 2014
if paid as reimbursement, then no TDS. if paid as an allowance, then 10%
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30 April 2014
but the professional mention it in his invoice. for eg. prof. fees 15000 + conveyance charges 2000. than what is the provision?
30 April 2014
see, if the conveyance charges are backed by bills (originals of which are being submitted to you) then you can reimburse and deduct no TDS on the same.
If it is a lump-sum amount is being asked for with no link to actuals being spent, then deduct tds on the same.
If it is a lump-sum amount is being asked for with no link to actuals being spent, then deduct tds on the same.
30 April 2014
thanks and please tell me the date of applicability of the provision that no tds is deduct on service tax charged on professional services?
30 April 2014
PLS ESEE CIRCULAR OF INCEME TAX 1/2014
30 April 2014
Rupesh, that circular is on service tax and not on reimbursements..wonder where your draw analogies..
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