Holding company passes on its overhead expenditure to its subsidiaries on some some rational basis & gives debit memos to its subsidiaries for accounting purpose. My query is:
1) Whether this is a "service" provided by the holding company to its subsidiary companies?
2) Does this attract service tax provisions?
3) Is the subsidiary company required to deduct TDS against the PAN no of its holding co. on the basis of debit memo received ? If so then under which section A reply in this regard will be of great help