tds on professional services
This query is : Resolved
29 August 2009
professional service= rs 22000
service tax = rs 2266
total = rs 24266
is it correct to say that tds on professional charges deductible on rs 24266 as the amount credited in the account of professional is rs 24266. please clairfy.
thanx in advance.
service tax = rs 2266
total = rs 24266
is it correct to say that tds on professional charges deductible on rs 24266 as the amount credited in the account of professional is rs 24266. please clairfy.
thanx in advance.
CA Vanesh Nadar
(Expert)
29 August 2009
No. It is would be incorrect as the TDS is deductable on the Gross Amount i.e. Rs.22000/- and the amount of credit ould be the same.
It would be considered as if so you are deducted the tax on Rs.22K.
It would be considered as if so you are deducted the tax on Rs.22K.
29 August 2009
Hey Pranav,
I think you need are correct you need to deduct TDS on gross amount + service tax i.e. 24266/- in all cases except Rent, in case of rent you only need to deduct TDS on gross amount.
Nazir
I think you need are correct you need to deduct TDS on gross amount + service tax i.e. 24266/- in all cases except Rent, in case of rent you only need to deduct TDS on gross amount.
Nazir
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