Sreedevi Damodaran (Accounts Executive) (75 Points)
25 September 2008Hi,
One of my company's auditor was not satisfied with our calculation of TDS on security charges and other charges where service tax is included. He was specifying about TDS to be deducted on service Tax along with specified charges, I want which is the correct method, to deduct only on charges or including service tax.
Thank you,
sree
Ram Avtar Singh
(Nagari Sultanpur U.P.Delhi)
(14497 Points)
Replied 26 September 2008
TDS shoul be deducted gross amount of Bill
NITIN KOTAK
(SERVICE)
(1465 Points)
Replied 26 September 2008
CBDT CLEAR THIS MATTER & ISSED THE NOTIFICATION NO-75/ FOR ABOVE MATTER CBDT CLEARLY MANTIONED THAT NO NEED TO DEDUCT THE TDS ON SERVICE TAX AMOUNT ONLY SERVICE VALUE APPLICABLE FOR T.D.S.
CA V. Mohanakrishnan
(Chartered Accountant)
(401 Points)
Replied 26 September 2008
TDS has to be deducted only on the service component value and not including the service tax amount
rahul gupta
(student)
(0 Points)
Replied 06 October 2008
HI
THE CORRECT MANNER IS TO DEDUCT TDS ON TOTAL AMOUNT i.E INCLUDING SERVICE TAX
Rohit Khare
(student)
(111 Points)
Replied 06 October 2008
Hi,
If you read the text of section 194C, it states that TDS is to bededucted on amount CREDITED to the account of party.
Kota Ramanjaneyulu
(Student)
(43 Points)
Replied 18 October 2008
| Originally posted by :Sreedevi Damodaran | ||
| " |
Hi, actually tds is to be calculated on the amount where servicetax is not included eg: if a single bill amount to a professional is Rs.25000/- and service tax is on that amount is Rs. 3090/- Now tds is to be calculated on the amount of Rs.25000/- only but not on the amount of Rs.28090/- so TDS amount is Rs.2575/- ( @ 10.3%) |
" |
Davis
(student)
(0 Points)
Replied 21 October 2008
Hi,
While booking service taxable income, can I book entry like
Income Dr
ST Payable Dr
To Vendor
instead of ST payable, can I book ST receivable( as the tax liability comes only on collection) Which one is correct
Davis
(student)
(0 Points)
Replied 21 October 2008
| Originally posted by :Guest | ||
| " |
Hi,
please read it as Party Dr to Income to ST Payable
|
" |
Davis
(student)
(0 Points)
Replied 21 October 2008
| Originally posted by :Guest | ||
| " |
Hi,
please read it as Party Dr to Income to ST Payable
|
" |
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