jaya pandey (accountant) (97 Points)
04 September 2008hiiiiiiiii
I want to know when i receive commission after deducting tds so how can know service tax incuding or not. i mean suppose i receive rs 5000 after deducting tds so which process following calculate of service tax
i) 5639*12.36% ii) 5639*12.36/112.36
| Originally posted by :jaya | ||
| " | hiiiiiiiii I want to know when i receive commission after deducting tds so how can know service tax incuding or not. i mean suppose i receive rs 5000 after deducting tds so which process following calculate of service tax i) 5639*12.36% ii) 5639*12.36/112.36 |
" |
Kindly Clarify TDS Rate also. Also what I understand from your query -
You are a service provider and you have received say Rs. 5000 after deduction of TDS then you are liable to pay service tax @ 12.36% for Rs. 5000/-. Are this you are asking for or kindly explain?
Sathish Karunakaran
(ACA)
(614 Points)
Replied 04 September 2008
Net Proceeds - Rs.5000
TDS on Commission - 10.30%
Gross Commission - 5000/(100%-10.30%) = Rs.5574
Service Tax = 5574/1.1236*.1236 = Rs.613/-
Direct Formula = 1/89.7%/1.1236*.1236 = 12.26%
Apply this on net proceeds directly (in case Tax deducted) = 5000 * 12.26% = Rs.613/-
Apply this rate in case tax not deducted = 1/1.1236*.1236 = 11% directly on net proceeds.
Manoj
(Service)
(36 Points)
Replied 06 September 2008
Hi,
Please find service tax at glance
Manoj Dadhich
S A Raju
(Service)
(29 Points)
Replied 16 October 2008
hi
pls clarify service tax on rent , how can i caliculate service tax on Rend amd TDS ,
CAclubindia
