Circular no.01 /2014-income tax-tds on service tax component

TDS 52884 views 35 replies

ORIGINAL SOURCE AVAILABLE


Circular No. 01 /2014 – Income Tax -CLARIFICTION REGARDING TDS ON SERVICE TAX COMPRISED IN THE PAYMENTS MADE TO RESIDENTS
 

https://www.chdcaprofessionals.com/2014/01/circular1incometaxclarificationtdsonservicetaxcomponent.html

Replies (35)

ORIGINAL SOURCE AVAILABLE


Circular No. 01 /2014 – Income Tax -CLARIFICTION REGARDING TDS ON SERVICE TAX COMPRISED IN THE PAYMENTS MADE TO RESIDENTS
 

https://www.chdcaprofessionals.com/2014/01/circular1incometaxclarificationtdsonservicetaxcomponent.html

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From which date is becomes applicable??

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..

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CA CS ICWA TAX PROFESSIONALS PORTAL - CBDT Press Release on change in procedure for PAN allotment

https://www.chdcaprofessionals.com/2014/01/changeinprocessofpanallotmantwef03022014.html

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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)

 

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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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