TDS

Querist : Anonymous (Querist) 08 June 2010 This query is : Resolved
Is tds to be deducted on the invoice value or on the service value? eg. for a professional service if A company receives an invoice from the consultant for professional services Rs. 50000, and service tax on that is 5,150 total invoice value is Rs. 55,150/-. Now TDS to be duducted at Rs. 50,000/- or at total invoice value of Rs. 55,150/-
Kindly clarify

Thanks

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Raj Kumar Makkad (Expert) 08 June 2010
Rs. 50,000/-.

Querist : Anonymous (Querist) 08 June 2010
Thanks for your response. Much appreciated

A V Vishal (Expert) 08 June 2010
The TDS on professional charges has to be deducted on 55,150/-. Refer the departmental circular issued wrt the issue.

Income Tax - F. NO. 275/73/2007IT(B), - Deduction of Tax at Source (TDS) on Service Tax

Jagmohan Rawat (Expert) 08 June 2010
I agree with Vishal. TDS is to be deducted on the invoice value(gross).

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