Hi
While calculating 30000 limit for 194 J whether gross amount should be taken or net.i.e whether service tax element should be excluded or included to see whether limit is crossed or not
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194j tds
Replies (6)
Since ST is not an income of the assessee, I think it should be excluded while computing the limit. Moreover, TDS is not applicable on ST.
According to Circular 01/2014 dated 13.01.2014 service tax component is not required to be added while the calculation of the tds amount during the tds payment
CBDT issued a circular in 2014 which clearly states that service tax element not be added to payment made under any of the provisions of tds where tds needs to be deducted.
as per section 194j, tds will apply on professional fees only, hence no deduction on service tax component
Service Tax shall be ignored for the said purpose.
yes. Pornima madam is right.
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