Very urgent
This query is : Open
deepa kapoor
(Querist)
17 June 2013
What are the services provided by the banks to the customers for which the service tax is to be collected?
Besides salaries, int on deposits, pension and payment to contractors are there any services on which TDS has to be deducted?
Besides salaries, int on deposits, pension and payment to contractors are there any services on which TDS has to be deducted?
17 June 2013
Dear Deepa Kapoor,
Normally the following service provided by banks attracts service tax
1 Commission earned on BC Inland
2 Commission earned on Inland LC
3 Commission earned on service charge Personal loan
4 Commission earned on Govt business
5 Commission earned on others
6 Commission earned on Inland guarantee performance
7 Commission earned on OBC Cheques DD etc.,
8 Commission earned on OBC Usance Bills
9 Exchange earned on Inland DD
10 Exchange earned on Bills purchase In land
11 Exchange earned on Banker’s cheque
12 Exchange earned on RTGS account
13 Exchange earned on NEFT
14 Postage Telegram Telex Expense Recovered
15 Incidental Charges
16 Inspection Charges
17 ATM Usage charges
18 Misc Income Stationary Charges
Coming to TDS part
a. Any legal fees paid to the advocates to take legal opinions.
b. Internal / concurrent audit fees.
c. any other professional services received by the banks.
Normally the following service provided by banks attracts service tax
1 Commission earned on BC Inland
2 Commission earned on Inland LC
3 Commission earned on service charge Personal loan
4 Commission earned on Govt business
5 Commission earned on others
6 Commission earned on Inland guarantee performance
7 Commission earned on OBC Cheques DD etc.,
8 Commission earned on OBC Usance Bills
9 Exchange earned on Inland DD
10 Exchange earned on Bills purchase In land
11 Exchange earned on Banker’s cheque
12 Exchange earned on RTGS account
13 Exchange earned on NEFT
14 Postage Telegram Telex Expense Recovered
15 Incidental Charges
16 Inspection Charges
17 ATM Usage charges
18 Misc Income Stationary Charges
Coming to TDS part
a. Any legal fees paid to the advocates to take legal opinions.
b. Internal / concurrent audit fees.
c. any other professional services received by the banks.
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