TDS on Invoice Value

TDS / TCS 5825 views 17 replies

hiii....

@ ram babu.....as per my knowledge no where in the act it is return that TDS to be deducted on the whole amount of the bil raised if there is bifercation is made in the bill of material and service....

as per my practical knowledge of my articleship of 3.5 years...i learnt that if the service is seperately mentioned in the bill than TDS only attracts on the service amount......

the TDS will be deducted @ 10% if technical service and 2% if there is contract......

@ ram babu

Boss!!!

i appreciate ur views but u r thinking of a story which haS NO MEANING IN LAW. The service provider is acting as friend or enemy ,i don't think it matters.

to make u clear

If i cover ur story under 194J -TDS on professional services even then u cannot deduct TDS on amount of material wen it is shown seperately in the invoice.

and

If i cover ur story under 194C- TDS on work contract. the  defination clearly says under work contract  u shud work on the material provided by the customer and not on material purchased from third party- so u can't cover this under work contract.

and one thing more under 194C the rate is not 10% , so u can't conclude that deductor is right .

Dear Sir,

For the service payment, Invoice is raised on the name of "X" but payment made to "Y" and TDS also deducted. Is it justifiable? otherwise, what are the consequences in this case?
 


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