Tds
This query is : Resolved
26 February 2012
IS TDS DEDUCTED ON GROSS AMT OR NET AMT...???
I.E
C.A. FEES 100000
SERVICES TAX 10000
EDU CESS 300
TOTAL 110300
IS TDS DEDUCTED ON 110300 OR 100000
HELP ME FRNDZ...........
I.E
C.A. FEES 100000
SERVICES TAX 10000
EDU CESS 300
TOTAL 110300
IS TDS DEDUCTED ON 110300 OR 100000
HELP ME FRNDZ...........
26 February 2012
TDS to be deducted on Rs 110300/-
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.
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.
Message likes :
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26 February 2012
TY U SIR 4 GIVING SUCH GUD REPLY
27 February 2012
sir whts yr mean by rental payment .....is it include hire charges .........??????
27 February 2012
Yes Rental Payment Include hire charges. If TDS deducted u/s 194I it should be on amount excluding service tax.
27 February 2012
if company deduct tds on service tax in hire charges(contract ho rakha h) toh kya hoga
27 February 2012
No problem will arise the deductee will get the credit of deducted TDS amount.
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