Wanted to know if STPI registered firms have to deduct TDS from any payments they do above TDS specified limits?
NANDURI RAVI SURYA NARAYANA MU
(ACCOUNTANT)
(194 Points)
Replied 16 March 2009
You must deduct the TDS and TCS definetly. Becuase Your supplier may not within the limit of STPI. So you must follow the respective sections i.e. 194A 194C, 194D,194G, 194H, 194I of the incometax act.
CA Gaurav Rastogi
(Finance & Account Officer)
(189 Points)
Replied 16 March 2009
TDS has to be deducted by the STPI units also. But they dont charge service tax and dont avail CENVAT credit of Excise Duty and Service Tax.
C.A. M.Com. Suhas A. Nagpure
(CA)
(1175 Points)
Replied 16 March 2009
Hi Gaurav
as per the new amendment Service Tax is applicable to SEZ & STPI from 3rd March Onward & they have to claim the same within sux months.
In case of TDS - STPI have to deduct TDS.
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