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Query on TDS

27 October 2007

Hello this is shivom and i have a query on TDS. If a Tralvelling agency is a partnership firm can it get the TDS refund deducted on commission earned. If yes, what is the procedure for the same?

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17 Replies

Late CA Sampat Jain (Chartered Accountant) (4772 Points)
Replied 27 October 2007

Just file your IT return claiming refund.

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(Guest)

whether AMC charges for UPS and PCB modules etc amounting to RS. 78,000/- pa ,qualify for TDS U/S 194-C or 194-J of IT Act. Pl.advise.

Vijay K. Agrawal (Service) (608 Points)
Replied 29 October 2007

yes under section 194 C

(Guest)

whether AMC service on UPS & PCB modules shall come under the purview of WORK as defined U/S 194-c or as Technical Service U/S 194-J. Kindly advise.

Nirmal1986 (articles) (149 Points)
Replied 30 October 2007

what is the rate of tds to be deucted for AMC in the above case

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(Guest)

please send me the individual tax rates for assessment year 2008-09 for the previous year 2007-08 for making the deduction from the salary and deposition of tax to the government. in nutshell tds deduction from salary.

(Guest)

Pl. let me know the itax rate for the a.y. 2008-09

(Guest)

Dear Sirs, Request you to clarify on below information. The estimated gross income tax liability for a salaried person works out to Rs.24000/- in a given financial year. CASE:1 While deducting Rs.2000/- monthly from the persons salary, do we have to take into account the cess also. CASE:2 On the other hand do we have to deduct only Rs.2000/- per month and remit. Also please clarify regarding computation of tax amount remitted in case of CASE:1 at the end of the financial year. Best Regards S. Anand

Vijay K. Agrawal (Service) (608 Points)
Replied 01 November 2007

194 C

Vijay K. Agrawal (Service) (608 Points)
Replied 01 November 2007

2 % Plus 10% surcharge plus 3 % Education cess

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Vijay K. Agrawal (Service) (608 Points)
Replied 01 November 2007

Dear Anand, Income tax means Income including surcharge ( if aaplicable ) and education cess. i do not whether you have computed as above or only income tax without education cess. in any case you calculated the way we have pointed out and deposited evry month . you send me the details of income i will send tax calculation. my email Id is vijay.agrawal @ acccement.com

(Guest)

Dear Mr. Vijay Agrawal, The situation referred to above, is for an employee in our company. His estimated Income Tax liability for the financial year works out to Rs.24000/- (excluding SC & cess) after considering the exemptions. In which case my query is a) whether the deduction from monthly salary for a period of 12 months should be Rs.2000/- or b) deduction Rs.2060/- (including cess 3%) per month. In case of option (a) - at the end of financial year total tax deducted will be Rs.24000/- (2000 x 12). The balance tax if any could be calculated and accordingly cess @ 3% could be added. In case of option (b) - at the end of financial year total tax deducted will be Rs.24720/- (2060 x 12) and no tax liability will be there at the end of March. My query is to whether monthly deduction and remittance to IT dept should be based on option (a) or option (b) Best Regards S. Anand