Tds on rent
This query is : Resolved
22 September 2011
Respected Sir,
TDS TO BE DEDUCTED ON GROSS AMOUNT ON NET AMOUNT FOR E.G.
NET AMOUNT 145000/-
SERVICE TAX @10.3% 14935/-
--------
GROSS AMOUNT 159935/-
lESS : - TDS 10% 15994/-
NOTE : - AS PER MUMBAI HIGH COURT JUDGEMENT TDS TO BE DEDUCTED ON NET AMOUNT NOT IN GROSS AMOUNT:
Please suggest me.
Thanks
TDS TO BE DEDUCTED ON GROSS AMOUNT ON NET AMOUNT FOR E.G.
NET AMOUNT 145000/-
SERVICE TAX @10.3% 14935/-
--------
GROSS AMOUNT 159935/-
lESS : - TDS 10% 15994/-
NOTE : - AS PER MUMBAI HIGH COURT JUDGEMENT TDS TO BE DEDUCTED ON NET AMOUNT NOT IN GROSS AMOUNT:
Please suggest me.
Thanks
22 September 2011
If the payment is for rent covered u/s 194I, then TDS is to be deducted only on the rent portion excluding service tax.
However, for payments made to a CA(194J), TDS is required to be deducted on the total invoice amount, including service tax.
However, for payments made to a CA(194J), TDS is required to be deducted on the total invoice amount, including service tax.
22 September 2011
As per CBDT CIRCULAR NO. 4/2008, DATED 28/4/2008, income tax is to be deducted on the rent element only.
Message likes :
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CA Pushpendra Gaur
(Expert)
29 September 2011
Mr warrier is absoluty right tds to be deducted on service value only
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