TDs Query
This query is : Resolved
15 May 2009
My query : TDS is deducted on which amount :
Example : Gross Amount : 25000 + service tax10.30% - 2575 = total amount : 27575/-
So on which TDS is deducted on 25000/- or 27575/-
In last year we r deducted TDS on Gross amount excluding service tax.
Service tax is not considered in case of Rent – is it true?
If TDS is deducted on total amount & we deducted TDS on Gross amount, what is the procedure to rectify the error.
Example : Gross Amount : 25000 + service tax10.30% - 2575 = total amount : 27575/-
So on which TDS is deducted on 25000/- or 27575/-
In last year we r deducted TDS on Gross amount excluding service tax.
Service tax is not considered in case of Rent – is it true?
If TDS is deducted on total amount & we deducted TDS on Gross amount, what is the procedure to rectify the error.
15 May 2009
No, TDS should be deducted on gross amount.
15 May 2009
In case of rent service tax need not be considered for the purpose of TDS.
15 May 2009
Thanks for ur reply sir,
So TDS should be deducted on Gross amount excluding service tax.. why different CA are giving different opinion on this matter, our CA told us to deduct TDS on Total amount including service tax. he says service tax is not consider in case of Rent matter only.
So TDS should be deducted on Gross amount excluding service tax.. why different CA are giving different opinion on this matter, our CA told us to deduct TDS on Total amount including service tax. he says service tax is not consider in case of Rent matter only.
15 May 2009
Amol,
Circular specifically issued for TDS on rent u/s 194I. Hence TDS needs to deducted on gross amount only for the purpose of TDS u/s 194I i.e. rent.
For rest you need to deduct the tds including service tax also.
Circular specifically issued for TDS on rent u/s 194I. Hence TDS needs to deducted on gross amount only for the purpose of TDS u/s 194I i.e. rent.
For rest you need to deduct the tds including service tax also.
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