ORIGINAL SOURCE AVAILABLE
Circular No. 01 /2014 – Income Tax -CLARIFICTION REGARDING TDS ON SERVICE TAX COMPRISED IN THE PAYMENTS MADE TO RESIDENTS
Circular no.01 /2014-income tax-tds on service tax component
Page no : 2
ANKIT SINGLA
(Article Assistant)
(26 Points)
Replied 22 January 2014
From which date is becomes applicable??
AJAY JAIN
(Chartered Accountant)
(108 Points)
Replied 22 January 2014
Is there any connection wrt Date of Invoice and applicability of this Circular??
For Eg,:-
Vendor Invoice is dated of December 2013 and same is booking in customer account after this circular(Eligible for deduction of tds at the time of booking).
On what amount TDS to be deducted..(Including or excluding service tax component)
Pl Clarify..
(Guest)
CA CS ICWA TAX PROFESSIONALS PORTAL - CBDT Press Release on change in procedure for PAN allotment
https://www.chdcaprofessionals.com/2014/01/changeinprocessofpanallotmantwef03022014.html
(Guest)
In the books of bill payer
1) Expense a/c ...dr 11236
To Bank 11036
To TDS payable 200
(a/cing of expense and pmt thereof)
2) TDS payable...dr 200
To bank 200
(When TDS is pd to Govt)
In the books of bill receiver
1) Bank a/c ... dr 11036
TDS a/c ...dr 200
To Service tax collected 1236
To Income 10000
2) service tax collected a/c ...dr 1236
To Bank 1236
(when service tax is paid to Govt)
vaibhav
(student)
(253 Points)
Replied 31 January 2014
Which amount to be shown in TDS return statement?
Amount paid to party -
i) including service tax amount or (will show short deduction of TDS),
ii) excluding service tax amount (will match with TDS rate)
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