Menu
sec 194c
before going through sec194c one should know the meaning of contact as per this section. example contract for advertising here rate of tds is 1%, in case of individual or huf 2% in case of others.it involves 2 concepts one of tds and other one is service tax. which means while we are paying for advertising agencies it include service charges that should eligible for input tax credit and tds should be paid on amont excluding service charges
Replies (3)
Dear Harinathk,
As per sec 194 c TDs should be deducted on only other then service tax of the bill, if separate amount of service tax are given in bill and part notification of that are as follow.
The matter has been examined afresh. In exercise of the powers conferred under section 119 of the Act, the Board has decided that wherever in terms of the agreement/contract between the payer and the payee, the service tax component comprised in the amount payable to a resident is indicated separately, tax shall be deducted at source under Chapter XVII-B of the Act on the amount paid/payable without including such service tax component.
As per sec 194 c TDs should be deducted on only other then service tax of the bill, if separate amount of service tax are given in bill and part notification of that are as follow.
The matter has been examined afresh. In exercise of the powers conferred under section 119 of the Act, the Board has decided that wherever in terms of the agreement/contract between the payer and the payee, the service tax component comprised in the amount payable to a resident is indicated separately, tax shall be deducted at source under Chapter XVII-B of the Act on the amount paid/payable without including such service tax component.
thank you brother
good clarification and information
Recent Topic
- Mismatch of pincode and district while registering
- Total income less than 12 lakhs but after processi
- Is Getsvision Solutions right for SMTP bulk email
- Queries on Stock/ETF gifting.
- Adding bank account for the deceased for ITR refun
- SALE OF EQUITY ON THE LAST DAY OF THE FY 2024-25 N
- Which ITR form
- Form 103 id delayed for submission for more than 1
- Composition scheme
- Input tax credit under igst under insurance compan
Related Topics
CAclubindia
