TDS ON VAT & SERVICE TAX
This query is : Resolved
31 July 2009
Why do we deduct TDS on an amount including VAT & SERVICE TAX ?
02 August 2009
The income tax provisions, in most cases, says that TDS should be deducted on the amount paid/credited to the party's account.
Since VAT and / Service Tax is also paid and / or credited to the party, TDS needs to be deducted on the whole amount.
The only exception is Service tax on rental of Commercial Property, in view of specific exclusion, by way of circular.
Since VAT and / Service Tax is also paid and / or credited to the party, TDS needs to be deducted on the whole amount.
The only exception is Service tax on rental of Commercial Property, in view of specific exclusion, by way of circular.
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