plz tell me calculation of service tax and tds. point by point
Answers were Sorted based on User's Feedback
Answer / bhavani bv
Service tax is 10.3% you have to calculate on your basic
amount
Example if you are raising invoice to customer
Basic value (sales value) 10,000/-
service tax is 10.3% 1030/-
Total invoice value is 11,030/-
Service tax basic is 10% and cess is 3%
Next TDS.
Hi,
Tax deducted at source means tax payable to government for
the service recieved from your vendor, you will deduct on
behalf of your vendor and make payment to government no his
companies name at the end of the year you will give your
vendor FORM 16A which will contain the acknoweldgement
reciept number with the detail of amount paid.
Then to calculate tds it depends up on the service recieved
if it is contractor 2%, Profeesional fee 10%, Rent 10%.
Salary as per slab ,First you have to catageorie under
which the expenses will fall then the tds rate is
applicable.
TDS form No to remit the company tds is ITNS 281 it has to
be remited every month before 7th.
I hope this will make you feel clear
You can download tds rate chat from websites and use it
Is This Answer Correct ? | 4 Yes | 1 No |
Answer / skh
Gross Amount 10000/-
service tax= 10000*10%= 1000/-
secondary tax= 1000*2%= 20/-
education cess= 1000*1%= 10/-
total service tax= 1000+20+10= Rs 1030/-
Is This Answer Correct ? | 2 Yes | 1 No |
what is WCT?
Are woollen Blankets (Rugs) taxable under CST ? Can unregistered party sell it.
What is the rate of CST without any form on Poplpropelene yarn to be sold out of Uttarakhand
what is sale entry, purchase entry, credit note , debit note entry?
5 Answers Aquasol, TCS, Wipro,
if i have a educational loan on my name, can i show for tax exemption on current year income tax? Is it applicable for tax exemption (educational loan)
why tds is considered as asset
Is sales tax payable on commodities on rental
HOW I PAID THE C FORM FEE , WHICH CHALLAN FOR THE PAYMENT & WHERE THE PAID IT HOW GET THE CHALLAN & HOW FILL IT, PLEASE GIVE ME THE RIGHT ANSWER ON MY E.MAIL sonidilip87@yahoo.com
What is the limitation for loan from pvt ltd company to other sole proprietor company suppose 25 lakhs given. what is the rule at the time of income tax point of view. Please clarify anybody....
I Have Deducted the tds against advance payment and how to adjust in the bill
1. What is a bad credit score? 2. What does my credit score mean? 3. Can I check my Vantage credit score range online? 4. Should I have perfect credit score, that is, above 800 credit score? 5. With a 600 credit score, how to improve my credit rating score? 6. How to raise my credit score if I have 500 credit score? 7. How to increase your credit rating score quickly? 8. How can I find out my credit rating score for free? 9. Home Equity Loans ? 10. Calculate Mortgage? 11. Mortgage Payment? 12. Mortgage Payment Problems? 13. Other Mortgage Questions? 14. What is Home Loan Modification? 15. What is the entry for deprecation? 16. What is Merger? What is Acquisition? What are motive behind mergers And acquisitions? 17. What is Demat Account? what is the use of it? 18. What is EPS? 19. What is the difference between Risk, Threat & Hazard? 20. what is minority interest? 21. what is portfolio Saint? 22. What is the Difference between hire purchase and a finance Lease? 23. What is Demat Account? what is the use of it? 24. Up to what time we can show TDS Receivables under Advance Income Tax A/c? 25. WHAT IS PROSPECTUS? 26. WHO ARE THE PROMOTERS? 27. WHAT IS DERIVATIVE? 28. WHAT IS A SHARE? 29. WHAT IS PORTFOLIO MANAGEMENT? 30. What is Accounting? 31. Re: what is the entry for rent paid to company, provision for taxes in your books? BY RENT PAID A/C DR. TO TDS ON RENT A/C CR TO CASH/BANK A/C CR 1. What is dishonor check? 2. New emlpoyee was joined on 15th Jan and salary paid on 28th Feb amt of Rs.20000/- and asked to give the Journal entry for the Month of Jan, Fed and March (His Monthly Salary is Rs.8000/-) ? 3. I KNOW THAT INSURANCE CHARGES ON PURCHASE OF VEHILE (LIGHT/HEAVY VEHICLES)HAS BEEN CAPITALISED OR NOT.? 4. Expand---------SDRT? 5. What is difference between profit, revenue? 6. why balance sheet should tally? 7. What is BRS? What is the use of BRS? 8. Please let me know the journal entry for the below. "A" paid Rs.100 to "C" on behalf of "B"? 9. what is purchase consideration? 10. expand P P Division ? 11. Stale Cheque entry in the books & when it reissued again then Entry in the books.? 12. what is cost accounting ? 13. what is mean by credit purchase? 14. WHAT IS THE MEANING OF BLUE CHIP COMPANY? 15. what is buy back of share & why a company go for it? 16. What is the types of accounts & it's rules ? 17. what is reconciliation ? 18. EXPAND______________RTA? 19. what is depreciation? 20. EXPAND______________IDBI? 21. what is difference between nominal and real account ? 22. what is the concept of finance accounting?
HOW TO CALCULATE INTEREST ON PREVIOUS SELF ASSESSMENT TAX ?