Hi,
One of my company's auditor was not satisfied with our calculation of TDS on security charges and other charges where service tax is included. He was specifying about TDS to be deducted on service Tax along with specified charges, I want which is the correct method, to deduct only on charges or including service tax.
Thank you,
sree
TDS shoul be deducted gross amount of Bill
CBDT CLEAR THIS MATTER & ISSED THE NOTIFICATION NO-75/ FOR ABOVE MATTER CBDT CLEARLY MANTIONED THAT NO NEED TO DEDUCT THE TDS ON SERVICE TAX AMOUNT ONLY SERVICE VALUE APPLICABLE FOR T.D.S.
TDS has to be deducted only on the service component value and not including the service tax amount
HI
THE CORRECT MANNER IS TO DEDUCT TDS ON TOTAL AMOUNT i.E INCLUDING SERVICE TAX
Hi,
If you read the text of section 194C, it states that TDS is to bededucted on amount CREDITED to the account of party.
| Originally posted by :Sreedevi Damodaran | ||
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Hi, actually tds is to be calculated on the amount where servicetax is not included eg: if a single bill amount to a professional is Rs.25000/- and service tax is on that amount is Rs. 3090/- Now tds is to be calculated on the amount of Rs.25000/- only but not on the amount of Rs.28090/- so TDS amount is Rs.2575/- ( @ 10.3%) |
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Hi,
While booking service taxable income, can I book entry like
Income Dr
ST Payable Dr
To Vendor
instead of ST payable, can I book ST receivable( as the tax liability comes only on collection) Which one is correct
| Originally posted by :Guest | ||
| " |
Hi,
please read it as Party Dr to Income to ST Payable
|
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| Originally posted by :Guest | ||
| " |
Hi,
please read it as Party Dr to Income to ST Payable
|
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CAclubindia
