Our Company has Wrap Audit last month. We paid Rs. 50638.00 to the audit company. Do we need to deduct TDS on it. If yes, then on which amount. The bill details are as follows:
Audit Fee 43552
Travelling Exps 2357
Total 45909
Service Tax 4591
E.Cess 138
TOTAL 50638
you have to deduct TDS on Rs. 50638/- including travelling expenses.
Please also tell me the rate at which TDS is to be deducted.
u/s 194J 10% is Rs. 5064/-
TDS WIILL BE DEDUCTED ON Rs45909/- only but not on service tax
What is wrap audit
Hiii Allll......!!!
TDS should be deducted on amount inclusive of Service Tax+ Edu Cess as this covers under section 194-J. (exemption of not deducting TDS on service tax is applicable only u/s 194-I)
AND... will you please tell me what is WRAP AUDIT??
WRAP Stands for Worldwide Responsible Accredited Production® (WRAP)
Vivek Jarial is correct...
A new concept WRAP audit, who does it CA's or engineers?
Please visit the web address to see presentation on Wrap
Thanks...
Wrap Audit........Good concept.
Please tell us in details.
TDS WILL BE DEDUCTED ON Rs 50638 @ 10%
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