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Shehbaz (Accountant)     03 April 2014

Tds amount

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



 14 Replies

Pravin Hambire

Pravin Hambire (B.Com)     03 April 2014

 Rs.39326
 

Deepak Tapse

Deepak Tapse (Accounts Manager - Taxation)     03 April 2014

TDS to be deducted on Rs. 350000/- ( Refer circular No. 1/2014 )

CA Devanand Jethanandani

CA Devanand Jethanandani (CA)     03 April 2014

TDS will be Rs.35000/-

Circular attched.


Attached File : 66721 1304081 no tds on service tax component.pdf downloaded: 218 times
1 Like
Mohit Ranga

Mohit Ranga (CA Practice )     03 April 2014

Tds will be rs 35000
Thomas Lai

Thomas Lai (Others)     03 April 2014

TDS will be 35000 as per new notification.
Ravishankar

Ravishankar (Partner)     03 April 2014

tds will be rs. 35000
Raghavendra

Raghavendra (accountant)     03 April 2014

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.
farzana

farzana (SR REC)     03 April 2014

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

CA Ankur Gupta (LLB Hons.)

CA Ankur Gupta (LLB Hons.) (Tax consultant)     03 April 2014

Tds should be on 350000 if the service tax amount is seperately shown in the invoice.
CA Ankur Gupta (LLB Hons.)

CA Ankur Gupta (LLB Hons.) (Tax consultant)     03 April 2014

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.
pravesh

pravesh (proprietor)     03 April 2014

I have not filled quaterlly statement in financial year 12-13 , 13-14 . Pl help me & what too do.
pravesh

pravesh (proprietor)     03 April 2014

I have not filled quaterlly statement in financial year 12-13 , 13-14 . Pl help me & what too do.
CA Shruti

CA Shruti (-)     04 April 2014

35000

 

CA.Pankaj Rawat

CA.Pankaj Rawat (Chartered Accountant)     05 April 2014

TDS amount will be Rs.35000


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