Hi
While calculating 30000 limit for 194 J whether gross amount should be taken or net.i.e whether service tax element should be excluded or included to see whether limit is crossed or not
CA Vishal Mehta (CA) (123 Points)
29 June 2016Hi
While calculating 30000 limit for 194 J whether gross amount should be taken or net.i.e whether service tax element should be excluded or included to see whether limit is crossed or not
CMA Poornima Madhava
(CMA)
(13112 Points)
Replied 29 June 2016
Since ST is not an income of the assessee, I think it should be excluded while computing the limit. Moreover, TDS is not applicable on ST.
Ayush Poddar
(CA in Practice)
(37 Points)
Replied 29 June 2016
According to Circular 01/2014 dated 13.01.2014 service tax component is not required to be added while the calculation of the tds amount during the tds payment
CA Harshal Totla
(Chartered Accountant)
(2229 Points)
Replied 29 June 2016
NARENDRA SAHOO
(3 Points)
Replied 29 June 2016
Rahul
(Student CA Final )
(30 Points)
Replied 29 June 2016