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
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
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
yes. Pornima madam is right.
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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