Thanks in advance for your help.
No, u r Calculation is incorrect there is no need to deduct TDS on service tax amount if it is paid separatly. In u r case the fee paid Rs.226500 and service tax on it is Rs.23330 so u need to deduct TDS on fee Rs.226500 is Rs.22650 only and u r payment amount is 226500+23330-22650=227180. But some of the companies following like u r calculation due to lack of knowledge or for safe reason.
OM SAI SRI SAI JAI JAI SAI
Only for rent, TDS is not to be deducted from the service tax. In your case, your calculation is correct.
Dear Dintakurthi Tirumala,
Pls refer any circular reference number or any notification of Income tax act to justify your view. i do aggree with the calculation of Mr. karthe and Mr.Mihir.
The calculation is correct.
Asset Management company is providing consultancy service. it falls under sec.194J
the circular in question, is specifically designed for sec. 194I in case of rent.
hope it serves the purpse.
CAclubindia
