05 April 2013
As per Circular No.4/2008 dated 28.4.2008, it was clarified that TDS on rental payments would be required to be made only on the basic rental amount without including service tax. In other words, TDS should not be made on the service tax portion of the rent. However, this analogy is not applicable to TDS under other sections.
In short-- For 194I - Deduct TDS on amount excluding service tax. For other section - Deduct TDS on amount including service tax.
Querist :
Anonymous
Querist :
Anonymous
(Querist)
05 April 2013
what about tds on professional services inclusive of service tax and other section and how tax effect done in service tax and TDS explain please by giving example?
05 April 2013
Say Fees 1000 So Service Tax 12.36% i.e.,124
Total 1124
TDS 10% of 1124 i.e., 112
Querist :
Anonymous
Querist :
Anonymous
(Querist)
06 April 2013
suppose 100000 is fee and on that 10% service tax is charged so total amt of bill is Rs 110000. TDS is 10% on 110000 i.e 11000 so if TDS RS 11000 is deposited in Income give 110000-11000 =99000 to professional. Then professional how much deposited in ST department if 10000 then there is loss to profsnal and 9000 its right so which answer is right? Can you explain in detal
07 April 2013
Fee - 100000 ST - 10000 Total- 110000 TDS - 11000 Paid to Professional - 99000
Professional collected service tax from you and deposited. So out of 99000 he will deposit Service Tax Rs 10000. So finally he has Rs 89000. He will get credit of TDS Rs 11000. So Finally he gets 89000+11000=100000