TDS QUERY
This query is : Resolved
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.
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/-
You are liable to pay tax on 40,000/-
CA Ashok Kumar Sahu
(Expert)
27 March 2010
agree with expert
CMA Ramesh Krishnan
(Expert)
28 March 2010
In your query you mean to ask whether Service tax or TDS
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