Shamita (Learner) (410 Points)
05 January 2010Our Company has Wrap Audit last month. We paid Rs. 50638.00 to the audit company. Do we need to deduct TDS on it. If yes, then on which amount. The bill details are as follows:
Audit Fee 43552
Travelling Exps 2357
Total 45909
Service Tax 4591
E.Cess 138
TOTAL 50638
Vivek Jarial
(Student)
(272 Points)
Replied 05 January 2010
you have to deduct TDS on Rs. 50638/- including travelling expenses.
Shamita
(Learner)
(410 Points)
Replied 05 January 2010
Please also tell me the rate at which TDS is to be deducted.
keerthana
(internal management auditor)
(30 Points)
Replied 05 January 2010
TDS WIILL BE DEDUCTED ON Rs45909/- only but not on service tax
Amir
(Learner)
(4016 Points)
Replied 05 January 2010
CA Anand Oberoi
(Chartered Accountant)
(296 Points)
Replied 06 January 2010
Hiii Allll......!!!
TDS should be deducted on amount inclusive of Service Tax+ Edu Cess as this covers under section 194-J. (exemption of not deducting TDS on service tax is applicable only u/s 194-I)
CA Anand Oberoi
(Chartered Accountant)
(296 Points)
Replied 06 January 2010
AND... will you please tell me what is WRAP AUDIT??
Shamita
(Learner)
(410 Points)
Replied 06 January 2010
WRAP Stands for Worldwide Responsible Accredited Production® (WRAP)
Nicky
(Chartered Accountant)
(245 Points)
Replied 06 January 2010
Vivek Jarial is correct...
A new concept WRAP audit, who does it CA's or engineers?
kaushik
(service)
(125 Points)
Replied 06 January 2010
Please visit the web address to see presentation on Wrap
CA Tilak Raj Sharma
(Practising CA in Solan (H.P.))
(6374 Points)
Replied 06 January 2010
Wrap Audit........Good concept.
Please tell us in details.
CA PRAVEEN KESHAV
(CHARTERED ACCOUNTANT)
(331 Points)
Replied 06 January 2010
TDS WILL BE DEDUCTED ON Rs 50638 @ 10%
CAclubindia
