We have get the service from someone for Rs. 50,000/- + service tax 10.3% 5150 = total 55150/- .
Please tell me about TDS Deduction on which amount ?
thanks & best regards
Shriniwas Tiwari
10 Replies
Amir
(Learner)
(4016 Points)
Replied 07 January 2010
Dear Shirinivas,
TDS Is to be deducted on 55,150 except if it a payment on a/c of Rent u/s 194 I
Naveen
(CA Final)
(53 Points)
Replied 07 January 2010
tds should be deducted on Rs.55150 at the time of payment
manjeet
(Sr.Commercial Executive)
(33 Points)
Replied 08 January 2010
u dedudct tds on gross amount- 55150
NARENDER PAWAR
(CA final Student)
(337 Points)
Replied 08 January 2010
yes tds is deductable on rs 55150. if this payment is belongs the nature of rent so tds is not deductable. because in case payment of rent , if payment is rs. 120000 or more than tds is deducted u/s 194I.
obulesu
(CA FINAL)
(77 Points)
Replied 08 January 2010
please tell me the more details of type of service
Shudhanshu Agrawal
(Business)
(2570 Points)
Replied 08 January 2010
TDS except in case of TDS on rent (u/s 194I) is deducted on gross bill amount. So it will be deducted on 55,150/-. For this a circular has already been published in 2008.
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