Tds on prof fees company and non-company deductees
This query is : Resolved
23 January 2014
Dear Sir
It is heard that new rule has come from Jan.2014 that while deducting TDS on prof fees bills technical and non-technical that TDS should be deducted on only net amount and not gross amount of bill.
Therefore to exclude service tax amount and then deduct TDS.
Pls confirm and inform if such rule is there and if it is then from which date is effective.
Thanks
Arun
It is heard that new rule has come from Jan.2014 that while deducting TDS on prof fees bills technical and non-technical that TDS should be deducted on only net amount and not gross amount of bill.
Therefore to exclude service tax amount and then deduct TDS.
Pls confirm and inform if such rule is there and if it is then from which date is effective.
Thanks
Arun
23 January 2014
it means that TDS is not to be deducted on service tax portion if it is charged separately.
If service tax is included in the bill, then you may have to deduct TDS on service tax portion also.
Yes there is the notification: CBDT Notification No.5/2014, Dated: January 15, 2014
If service tax is included in the bill, then you may have to deduct TDS on service tax portion also.
Yes there is the notification: CBDT Notification No.5/2014, Dated: January 15, 2014
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