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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)
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.
Thanking you a lot.
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
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