TDS
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 May 2011
Hi
We purchase software license from X Ltd. Details of the same -
Base Price = Rs.1000
Service Tax on above = Rs.103
VAT (on BP + ST) = Rs.44
Total (invoice value) = Rs.1147
TDS [(1147-44)*10%]= 110
Whether the above procedure followed by client in right?
Why in computing VAT ST included? Why in computing TDS VAT portion alone eliminated? Whether those are requirement of act? If so, help me out in knowing the same.
Thanks and Regards
VS
We purchase software license from X Ltd. Details of the same -
Base Price = Rs.1000
Service Tax on above = Rs.103
VAT (on BP + ST) = Rs.44
Total (invoice value) = Rs.1147
TDS [(1147-44)*10%]= 110
Whether the above procedure followed by client in right?
Why in computing VAT ST included? Why in computing TDS VAT portion alone eliminated? Whether those are requirement of act? If so, help me out in knowing the same.
Thanks and Regards
VS
18 May 2011
If this is a repair & maintenance, then it is a type of contract. so, TDS will charged u/s 194C. then TDS will be charges on total amount inclusive of everything.
but if this treated as rent u/s 194I, thern TDS will only be charge on rental amount.
but if this treated as rent u/s 194I, thern TDS will only be charge on rental amount.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GST Regis.
- Inventory of finished goods
- Sale of property furniture sale
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Disallowance of Section 43B(h) to sez units
- Confusion around Form 26QB fields
- Applicability of Ind As to associate of associate
- Should I include march foreign salary received in April in my income for FY 2023-24?
- Bogus purchase treatment for it act gst dealer
- Company Incorporation - CA and directors signing from different states
- Filing of Form 10BB instead of Filing Form 10B
- HSN Details in IFF/GSTR-1 & in GSTR 9
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
Trending Online Classes
CAclubindia
