The party has raised service bill for Rs. 120000. The TDS
deductor company made TDS on Rs. 100000 i.e., Rs.20000 is
deducted on the gross bill of Rs 120000. My question is
whether to deduct TDS on Rs.120000 or on Rs. 100000?
Answer Posted / alkesh
TDS will be deducted on Rs. 120000/-
| Is This Answer Correct ? | 12 Yes | 4 No |
Post New Answer View All Answers
Hi, I need the clarification in Tax Rate in Karnataka for Frozen foods like Paratha, Briyani, Pasta's Please share the information for me
If a person have been appointed as a Director in more than one company, what is the rule of paying Prof. tax ? Is Directors prof .Tax has to be paid by all the Companies whre he is a director.?
what is rate of different service tax in haryana
What is VAT TDS? when it is applied & at what rate?
Hi, Please guide me in the TDS calculation. I know the slabs.But I dont have much idea about the deduction part.What is the need of Bsic and HRA while calculating TDS.Also I heard that LIC, Rent etc is excempted from TDS.Please guide me...my email id is tinjusyriac@gmail.com Thanks in advance..
While depositing cash at any bank above then Rs 50K, we need to provide PAN Card or we have to fill form 60, but tell me why a person needs to sign FORM 60 if he is paying installments of >50K of Loan availed by him/her earlier? As if he is repaying Loan, not depositing in his A/c?
What are the various forms used for VAT?
vat return dates for uttrakhand
what is the difference b/w deferred tax exp and defeered tax liab? should Deffered Tax expense be deducted b4 computing Net profit?
The Depreciation Rate for Heavy Equipments like cranes (used in the construction of bridges, flyovers etc ... ) is 30% as per the companies act. If i buy a crane for Rs. 10 Lakh and claim depreciation the cost of the crane in the 2nd year is 7 Lakh and in the 3rd year it is 4.9 Lakh and in the 4th year it is 3.4 Lakh ...... Can i re-value the crane in the 5th year to the 2nd hand market price of Rs. 20 Lakh and claim depreciation on it @ 30% ? (Cost of crane in 6th Year now is 20 Lakh - 6 Lakh = 14 Lakh )
WHAT IS EXECUTION OF WORKS CONTRACT ?
Dear All, We are a trader and doing one E-1 sales. Supplier send the material by To-pay basis, we endorse the LR and sold to Customer. Customer has given the purchase order for Basic amount and freight amount also. That means we have to pay the freight and getting the reimbursement from customer. In E-1 sales Invoice can we show the freight amount separtely as freight ? Since the customer need the freight head should be shown separetly. Or can we raise the separate debit note for this. Is it create any tax implifications in E-1? Please claify the same at the earliest. regards Regards Thananjeyan.P
what is works contract tax? if a contractor made a bill as repairs to machinary 00000000/- service tax 12.36% on 40% on basic value Vat 5% on 60% of the basic value of the bill amount how can i deduct works contract tax? please suggest me?
Central purchase is eligible for issuance of H form. Whetther H form can be issued against local purcahse also? What I came to know is : earlier H form can be issued against central purchase only, but after intoduction of VAT, department issued notification regarding issuance of H form against LOCAL PURCHASE also. Is it true? If true then please tell me about notification/ circular/ relevant section or law. Please look into the matter. Thanx n Regards
what is form requirment for monthly, quartely, and yearly sale return for haryana