if a Pvt. Ltd. company raise a bill in following manner for contract of amc of ac repairing ( company is registere in vat & Service tax)
basic amount = 118000
vat 12.5% on 80% of basic amount (i.e. (118000*80%)*12.5% =11800
service tax 12.36 % on 70% of basic amount i.e.(118000*70%)*12.36%=10209
total bill amount = 140009
whether tds 10 % on professional fees = 140009*10 % = 14001 on whole amount or
whether tds 10 % on prof. fees = 92809.36 and tds 2 % (194 c) on 47150=944
or something else ?
thanks in advance