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T.D.S. Query ! urgent

bhavik mehta (C.A.) (526 Points)

18 November 2009

frnds

i am maintaining books of C.A. as per cash basis

now if i have done audit of bank of p.y.2008-09 & got check of the same in may-09,then

amount deduct as T.D.S.,

how can i claim under incometax ?

form no. 16A of tax deduct at source tax deducted for p.y. 2008-09.

pls reply me. & give more details to clear this one.

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11 Replies

N.J.R (Practice) (346 Points)
Replied 18 November 2009

Claim TDS on Receipt basis.

Prashant (Internal Auditor) (746 Points)
Replied 20 November 2009

No Problem you can claim in next year

Gaurav Shah (PRACTICE) (24 Points)
Replied 28 November 2009

whether t.d.s to be deducted by a company/firm on the interest paid on term loan taken from LIC housing finance ltd.

Devendra (Article) (72 Points)
Replied 28 November 2009

since ur accounting on cash basis it will be income for u in p.y 09-10 and hence u can avail the tax credit next year

N.J.R (Practice) (346 Points)
Replied 28 November 2009

Originally posted by :Gaurav Shah
"	whether t.d.s to be deducted by a company/firm on the interest paid on term loan taken from LIC housing finance ltd.	"

No.

sandeep (chartered accountant) (332 Points)
Replied 15 December 2009

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NISHANT (CA) (28 Points)
Replied 16 December 2009

hi dear i have one query is if we paid tds with wrong rate means excess rate then require so what procedure i follow to get back it?

Rohini Kumar (Partner) (24 Points)
Replied 02 January 2010

We are Manpower(marine Officers) supply agents to a shipping Comapany.

In our debit note we are Claiming (a) Wages-Net-payble to officers,(B) Travel Expences-Actual incurred,(C)Victualling amount(Food Expences as approved by Comapany,(D) Our fee 10% on the Net wages i.e on "a",and (E) service Tax @ 10.3% on our FEE i.e."D".

Our Claint deducted TDS 11.33% on our Fee +Service Tax i.e.on" D+E" in the last financial year issued Form 16 A to us.

Our claint only paid the TDS to the Officers as per agreement and issued TDS -Form 16 fo each individual.

Now our Claint saying that TDS as per Section 194 J i.e 11.33% on the Gross billing i.e. on "a to E" will be deducted.

Is it correct?

The (a) to (C) net wages ,travel,victualling are reimbursement in nature and (D)is our service fee.and (E) is service tax on "D"..we are not agreeing for the TDS of 11.3% on gross .

we are agreeing for TDS @ 11.33% on D &E ,Please inform which is correct.I can forward the Debit note copy to your e mail up on informing the e mail id.

thanks

Rohini kumar

Rohini Kumar (Partner) (24 Points)
Replied 04 January 2010

We are Manpower (marine Officers) supply agents to a shipping Comapany.

In our debit note, we are Claiming (a) Wages-Net-payble to officers,(B) Travel Expences-Actual incurred,(C)Victualling amount(Food Expences as approved by Comapany,(D) Our service fee 10% on the Net wages i.e on "a",and (E) service Tax @ 10.3% on our FEE i.e."D".

Our Claint deducted TDS 11.33% on our Fee +Service Tax i.e.on" D+E" in the last financial year issued Form 16 A to us.

Our claint only paid the TDS to the Officers as per agreement and issued TDS -Form 16 fo each individual in the last financial year.

Now our Claint saying that ,TDS as per Section 194 J i.e 11.33% on the Gross billing i.e. on "a to E" will be deducted.

Is it correct?

The (a) to (C) are i.e.net wages ,travel,victualling are reimbursement in nature and (D)is our service fee.and (E) is service tax on "D"..we are not agreeing for the TDS of 11.3% on gross .

we are agreeing for TDS @ 11.33% on D &E ,

Please inform which is correct?

.I can forward the Debit note copy to your e mail up on informing the e mail id.

thanks

Rohini kumar

CA Jayesh Gokalgandhi (CA in Industry) (126 Points)
Replied 04 January 2010

TDS needs to be deducted under section 194C and not 194J as the debit note is towards supply of manpower. The TDS will be deducted on the entire amount of debit note (Wages + Fees + Service Tax)