LET A FIRM X & CO. ACQUIRED A OFICE FOR AMOUNT OF RS100000 PER ANNUM UNDER A AGREMENT.
RS 100000 INCLUDES 70000 FOR RENT PURPOSE
RS 30000 INCLUDES FOR OTHER SERVICES..
PLEASE SUGGEST ME THE AMOUNT OF TDS TO BE DEDUCTED BY X& CO.
THE AMOUNT TO BE PAID AFTER TDS ..
THANX IN ADVANCE ....................
For Rent, TDS is deducted on rent amount only, not on service tax amount. Therefore TDS @ 10% will be deducted on Rs 70000/- (exclusive to service tax amount).
What other services are there for Rs 30000/-? It depends on the services nature, how much TDS and under which Section, TDS will be deducted?
Agree with veenit...but as ur 1st sentence says "service TAX" then TDS to be deducted exclusive of service tax amount..
As per servive tax provisions Tax paid on gross amount which inculeds TDS amount.....!!!!!!!!!
CAclubindia
