Tds charged on service tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 January 2013
Is tds charged on service tax in case of
1.We taken credit of service tax and
2.Without credit of service tax ?
1.We taken credit of service tax and
2.Without credit of service tax ?
12 January 2013
Except Rental Payments, Service Tax is taken into account for TDS purpose.
.
http://www.taxmanagementindia.com/visitor/detail_rss_feed.asp?ID=546
.
.
http://www.taxmanagementindia.com/visitor/detail_rss_feed.asp?ID=546
.
12 January 2013
The deduction of TDS is based on the provisions of income tax and it do not take the CENVAT into consideration for the same.
Under the income tax act, TDS is to be made on the gross amount of income (only the income portion and donot include any taxes charged on such income)in the case of Rent (u/s 194 I). However in all other cases, TDS should be made on gross amount paid / payable which includes service tax and other taxes.
Therefore, only for the purpose of deduction of TDS u/s 194 I no need to deduct tax on the service tax portion. CBDT had also issued a specific circular vide Circular No. 4/2008 on the above position.
Under the income tax act, TDS is to be made on the gross amount of income (only the income portion and donot include any taxes charged on such income)in the case of Rent (u/s 194 I). However in all other cases, TDS should be made on gross amount paid / payable which includes service tax and other taxes.
Therefore, only for the purpose of deduction of TDS u/s 194 I no need to deduct tax on the service tax portion. CBDT had also issued a specific circular vide Circular No. 4/2008 on the above position.
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
- Is this income indian or foreign income?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- GST on export of services and Input Credit
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- Should I report my US salary for January, February, March in Schedule FA?
- Can a partnership firm become partner in a LLP ?
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- 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
- TDS on purchase of value vouchers for employees ?
- 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
