What to pay service tax ur income tax

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

24 August 2016 i want to know one thing that i m providing cab to a company i have 3 employees under me .... i m not a registered dealer of service tax ...... the Co. to whom i provide service gives me the payment after deducting TDS @ 1% per employees under me and after deducting my profit i gave salary to my employees... sir will u plz tell me the process of tax payment

Anand

Anand (Expert)
Follow

25 August 2016 Your query is very unclear. Are you providing cab to the company or employee, because you mentioned that company is deducting 1% per employee and not per cab.
For Income Tax purposes you will have to pay tax on the following
Gross Receipts from Client including TDS Minus Salary to your employees Minus Other expenses incurred for running your business such as office rent, fuel for vehicles, or other expenses borne by you which are related. Tax will be payable on the net profit and you can claim the set-off for TDS deducted by the company on the same.
For Service Tax purposes you do not need to levy tax as the service recepient will deposit the tax.
However if your turnover exceeds 09 lakhs in a year you will be required to get registered

Message likes : 2 times

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now