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Calculation

292 views 3 replies

Animesh Rawka

propritor

34 Points Posted on 14 October 2014

i am st payer. if i got 100 in my bank including 12.36%tax then pls tell me what is my base amount and what was my tds if 1% deducted. base price + st-tds = bank received amount. confusion is that weather the tds deducted on base amount or invoice amount ( base amount + st) and pls send the formula also if u can. thanks.

Replies (3)

CA Saloni

Manager-Accounts & GST Consultant

5124 Points Posted on 14 October 2014

TDS is deducted on the basic amount ie. excluding service tax......

Suppose bill amount is :

BAsic=100

ST=12.36

Total=112.36

TDS deducted (100*1%)=1

You will get Rs 111.36 in your bank.

Animesh Rawka

propritor

34 Points Posted on 14 October 2014

Thanking you a lot.

CA Ashish K Bansal

partner

175 Points Posted on 16 October 2014

The above example is ideal situation but most of deductor are nit awsre that tds is not ti be deducted on service tax portion hence please check with your deductor check your form 25as from where you can get amount of tds and amount on which tds is deducted