If a person issued an invoice for his Professional fess of Rs.393260(Rs.350000 cost + 43260 Service tax). Dated 3/4/2014
Please tell me what is the correct amount of TDS?
1. Rs.39326 2. Rs.35000
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Tds amount
Replies (14)
Rs.39326
TDS to be deducted on Rs. 350000/- ( Refer circular No. 1/2014 )
TDS will be Rs.35000/-
Circular attched.
Tds will be rs 35000
TDS will be 35000 as per new notification.
tds will be rs. 35000
I opine that, As per the circular no.01/2014, if the service tax on value of service mentioned separately in the contract entered between service provider (resident) and service receiver no need to deduct tds on service tax portion irrespective of provisions under the chapter XVII-B under chapter. If the answer is affirmative then the tds base amount shall be Rs.35000 otherwise Rs.39236.
Hi,
My previous salary was 37000/Month for atleast 6 months now i changed my employer(other company) joined in March my salry is 30,000/Month.
But here am coming across like my current company has to take care of previous companie TDS so they say they will deduct it. here am not geting why current company will take care of my previous company TDS and now they will deduct it from my current salry. my salry is still on hold due to this reasons.
Kindly let me know will really my current employer has to deduct the TDS (due to my previous emloyer dnt deduct TDS). if so how much it will get deducted.
Will look forward to hear from you soon
Thanks
Farzana
Tds should be on 350000 if the service tax amount is seperately shown in the invoice.
Dear farzana..
The contention of ur new employer is correct.
As ur total income in previous financial year:
37000*6=222000
30000*1=30000
Totalled is 252000
Which is above the basic exemption.of 200000.
Thus he is liable for deducting tax.
I have not filled quaterlly statement in financial year 12-13 , 13-14 . Pl help me & what too do.
I have not filled quaterlly statement in financial year 12-13 , 13-14 . Pl help me & what too do.
35000
TDS amount will be Rs.35000
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