28 March 2012
Hi, A Limited company getting cab service from a sole trade proprietorship without any contract, in this case the service tax would be 10.36% and the tds would be 1 % iam i right ?
01 April 2012
Yes he will charge service tax @ 12.36% now and you will deduct TDS @ 1%, here substance over form theory will apply so substance of transaction you have to consider it is immaterial that agreement made or not
CAclubindia
