Tds on rent
This query is : Resolved
26 December 2013
service tax is charged on rent includes TDS (rent + tax deducted at source )
or
only on gross amount of rent
????? on what amount service tax is required to be chargeable.
or
only on gross amount of rent
????? on what amount service tax is required to be chargeable.
CA Pallav Singhania
(Expert)
26 December 2013
You Should deduct TDS on Gross amount excluding S.tax.
it means Service Tax = (Amount + TDS)*12.36% and TDS = (Amount paid + TDS)* TDS Rate (i.e.2% / 10%)
it means Service Tax = (Amount + TDS)*12.36% and TDS = (Amount paid + TDS)* TDS Rate (i.e.2% / 10%)
26 December 2013
sorry my question is wrong . i have doubt regarding service tax chargeable on rent + tds (or) only rent
Gayathri Devi
(Expert)
26 December 2013
Dear Ramanamma
It is chargeable only on rent amount
It is chargeable only on rent amount
26 December 2013
It is chargeable on rent amount only as per circular no 04/2008 dated 24.04.2008.
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26 December 2013
Service tax is chargeable no gross rent that is before deducting TDS.
26 December 2013
example
rent 20000
tds 2000
service tax on 22000 or on 20000
reply
rent 20000
tds 2000
service tax on 22000 or on 20000
reply
CA Pallav Singhania
(Expert)
26 December 2013
it will be on 20000
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26 December 2013
for what amount you giving rent receipt
i.e 20000
or 22000
i.e 20000
or 22000
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CA.ViVeK M ACA
(Expert)
26 December 2013
Service Tax will be calculated on "Gross amount of rent.
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1 times
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