TDS on Advance Payment
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 September 2010
Hi,
My company is installing air conditioners in office. Is tds to be deducted on installation charges paid in advance, If yes then wat is the rate? And please note I have recd the proforma invoice where service tax has not been included. So i would deduct tds on net amt?
My company is installing air conditioners in office. Is tds to be deducted on installation charges paid in advance, If yes then wat is the rate? And please note I have recd the proforma invoice where service tax has not been included. So i would deduct tds on net amt?
06 September 2010
TDS to be deducted u/s 194 C @ 1%(individual) or 2 % (if the recipient is a Domestic Co. or firm) on the advance paid.
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06 September 2010
As per the TDS provisions it is to be made on credit to account or payment whcih ever is earlier It is to be made.
Agreed with CA Sukanya.
Agreed with CA Sukanya.
06 September 2010
TDS will be deducted on amount inclusive of service tax. Only in case of TDS on Rent u/s 194I TDS is deducted on amount excluding service tax.
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 September 2010
But payment is made on the basis of quotation where Service tax amount is not applied.
06 September 2010
Deduct TDS on the amount paid.
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