T.D.S.
This query is : Open
08 December 2009
I would like to know whether tax should be deducted at source on gross bill amount or at net bill amount? for eg. if the party has raised a bill of Rs. 1,00,000 for services provided and service tax @ 10.3 % i.e. 10,300, total bill amounting to Rs. 1,10,300 then we sould deduct T.D.S. on Rs. 1,00,000 since that is the income of that party or Rs. 1,10,300 since that is our expenditure? Please explain when (a) our services are covered under service tax and (b) when our services are not covered under service tax
Thank You.
Thank You.
08 December 2009
TDS should be deducted on amount including Service Tax, except service tax on renting of immovable property.
08 December 2009
agreed with expert. You need to deduct the tds on gross amount.
08 December 2009
thanx alot...
14 December 2009
But, could any one explain the logic behind this. What i understand is that T.D.S. is deducted only on the income of the person. In the above mentioned example, Service Tax does not form a part of the Income of the party providing the service since the is liabile to pay the service tax amount to the Service Tax Department. pls explain.
Thank You.
Thank You.
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