TDS on Rent
This query is : Resolved
23 March 2011
If Land loard Charges Rent with Service Tax
Then On What Amt We have to Deduct TDS (Inclusive of Service Tax Or Exclusive)
& Only Basic Amt is Liable to TDS then
We claim the Full Exp (with Service Tax)
can I.T. Officer raise Query on TDS Deduction
Then On What Amt We have to Deduct TDS (Inclusive of Service Tax Or Exclusive)
& Only Basic Amt is Liable to TDS then
We claim the Full Exp (with Service Tax)
can I.T. Officer raise Query on TDS Deduction
23 March 2011
Deduct TDS on amount Exclusive of 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.
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.
23 March 2011
In case of Rent transaction, TDS required to be deducted excluding the service charges. Generaly TDS required to be deducted including the Service tax value Unless it is specifically exempted under Income tax Act.
As far as TDS on Rent, there is a circular No.4/2008 dated 28.4.2008 for excluding Sertvice tax.
As far as TDS on Rent, there is a circular No.4/2008 dated 28.4.2008 for excluding Sertvice tax.
23 March 2011
But if not taken Service Tax Credit Then Full Amt Debited to p& L then is it allowed by I.T Officer
23 March 2011
Yes even in that case it will be allowed fully if you deduct on amount excluding service tax.
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?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- GST ON EXPORT COMMISSION
- RCM INVOICING FROM NOV-2024
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- ITC EXCESS CLAIM + RCM NOT PAID...BOTH FOR FY 2020-21......PAID IN FY 2024-25....EFFECT
- 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?
- Query for dubts
- Regarding einvoice taken on nil rated sales
Trending Online Classes
CAclubindia
