Hi,
for a service firm, when the payment is paid (Professional Fee + Service Tax), can someone help if the TDS should be applicable on the entire invoice value or is it only on Professional fee excluding Service Tax?
Eg:
Prof Fee : Rs 100,000
Serv.Tax : Rs 10,300
Total : Rs 110,300
Is the TDS applicable on Rs 100,000 or on Rs 110,300 ???
if there is any ITO circular to this effect, it will be of help.
thanks,
Tds have to deduct including service tax..
Tax to be deucted on full bill value, only in case of rent a specific circular is availabe for not deduting TDS on service Tax [CBDT Circular: CIRCULAR NO. 4/2008, (dated 28.04.2008] in light of the same we have to infer that tds to be deducted including service tax on all other cases.
TDS will be deducted on Full Value i.e. Rs. 110300/-
ratan
| Originally posted by : Deepak Narayanan | ||
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Tax to be deucted on full bill value, only in case of rent a specific circular is availabe for not deduting TDS on service Tax [CBDT Circular: CIRCULAR NO. 4/2008, (dated 28.04.2008] in light of the same we have to infer that tds to be deducted including service tax on all other cases. |
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Full value and not the amount excl Service Tax.
"Any amount paid" means full amount.
tds would be deducted including service tax i.e. on Rs.1,10,300/-.
TDS IS DEDUCTED ON FULL AMOUNT INCLUDING SERVICE TAX IN ALL SECTIONS OF TDS EXCEPT SECTION 194-I WHERE TDS IS DEDUCTED ON AMOUNT EXCLUDING SERVICE TAX.
| Originally posted by : CA.Rakesh Kumar | ||
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TDS IS DEDUCTED ON FULL AMOUNT INCLUDING SERVICE TAX IN ALL SECTIONS OF TDS EXCEPT SECTION 194-I WHERE TDS IS DEDUCTED ON AMOUNT EXCLUDING SERVICE TAX. |
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Agreed.
Tax to be deucted on full bill value, only in case of rent a specific circular is availabe for not deduting TDS on service Tax [CBDT Circular: CIRCULAR NO. 4/2008, (dated 28.04.2008] in light of the same we have to infer that tds to be deducted including service tax on all other cases.
Tax to be deucted on full bill value, only in case of rent a specific circular is availabe for not deduting TDS on service Tax [CBDT Circular: CIRCULAR NO. 4/2008, (dated 28.04.2008] in light of the same we have to infer that tds to be deducted including service tax on all other cases.
Hi,
T.D.S is deducting on service tax also i.e in this case 110300 exception in case of rent only there is no deduction of T.D.S on service tax .
| Originally posted by : Deepak Narayanan | ||
|
|
Tax to be deucted on full bill value, only in case of rent a specific circular is availabe for not deduting TDS on service Tax [CBDT Circular: CIRCULAR NO. 4/2008, (dated 28.04.2008] in light of the same we have to infer that tds to be deducted including service tax on all other cases. |
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Shyam Joshi & Associates
Pune
B.Com
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