Tds on vat portion of technical service
This query is : Resolved
Rajesh Kumar Chotia
(Querist)
15 December 2014
Bill of Software Purchase
Basic 1,00,000
Service tax 12,360
Total 1,12,360
Vat 5% 5,618
Total 1,17,978
TDS is to be deducted on (basic) or (basic+ vat) ?????? Give appropriate sporting.
Basic 1,00,000
Service tax 12,360
Total 1,12,360
Vat 5% 5,618
Total 1,17,978
TDS is to be deducted on (basic) or (basic+ vat) ?????? Give appropriate sporting.
CMA Ramesh Krishnan
(Expert)
15 December 2014
Software purchase TDS apply in the criteria
Incase you purchased readymade software available at market the no TDS apply
Incase software developed specifically for your company and supplied then TDS will apply
TDS on service tax component not apply if your agreement/contract has that service tax clause, otherwise TDS will apply gross value of bill.
Incase you purchased readymade software available at market the no TDS apply
Incase software developed specifically for your company and supplied then TDS will apply
TDS on service tax component not apply if your agreement/contract has that service tax clause, otherwise TDS will apply gross value of bill.
Rajesh Kumar Chotia
(Querist)
16 December 2014
what about Vat portion?
CMA Ramesh Krishnan
(Expert)
16 December 2014
TDS applicable on VAT portion when the TDS criteria meets your software purchase under TDS
Rajesh Kumar Chotia
(Querist)
17 December 2014
there is any circular?
17 December 2014
there is a circular for non deduction of tds on servie tax portion which actually means that in invoice if there is vat and servcie tax then deduct tds on all mounts excluding service tax, hence vat is covered Refer Notification no 1/2014
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