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TDS QUERY

This query is : Resolved 
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(Querist)
27 March 2010 IF WE CAME TO KNOW THAT OUR CONTRACEE DEDUCTED TDS ON RS. 40 LACS @ 1% = 40000 IN THE MONTH OF MAY AFTER FILLING OF SERVICE TAX RETURN. THEN WHAT WILL BE THE SERVICE TAX LIABILITY FALL ON US ON RS. 40000 I.E. TDS AMOUNT OR RS. 40 LACS. WE HAVE NOT RECEIVED NOT ANY PAYMENT BY CONTRACTEE. CAN IT BE ASSUME IN SERVICE TAX ACT THAT AMOUNT OF RS. 40 LACS DEEMED TO BE RECEIVED TO US. PLEASE ANSWER IT. IT IS VERY URGENT.
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Shyam Lal Naik

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Shyam Lal Naik (Expert)
27 March 2010 The TDS amount will be deemed to have been received in the month of May.

You are liable to pay tax on 40,000/-
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CA Ashok Kumar Sahu

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CA Ashok Kumar Sahu (Expert)
27 March 2010 agree with expert
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
28 March 2010 In your query you mean to ask whether Service tax or TDS
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