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

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/-

i want to learn income tax work please tell me about all dedutions exempations and income detail...how to calculate tax on net income

0 Answers   ABC,

---

hi i want to know that what r all the component which r applicable for tax in salary,whether it is payable or reimbursement

1 Answers  

---

Dear friends, How can we get refund of WCT?

1 Answers  

---

Dear All, My query is related to capital gain on house property. If a pair of husband and wife have four houses in joint name comprising three residential house and last one is commercial property. Now question is that if they sold all property for Rs. 1.00 Crore and took a new residential property for Rs. 1.25 Crore. So are they eligible to full tax exemption u/s 54 and 54 f and they had to not pay any amount of Income tax? And they have also taken a Rs. 25.00 Lacs housing loan to invest the last one. So are they can take deduction u/s 24B and 80C as well? Please note that they have all property in joint name and share is 50% of each. Please guide me for this.

1 Answers  

---

I want to know full details of TDS?

2 Answers   ITC Infotech,

---

HOW TO CALCULATE MY EPF INTEREST? IF I HAVE JOINED TO A COMPANY ON 1ST FEB'08'& RESIGNED ON 31ST DEC'09', THEN WHAT WOULD BE MY EPF INTEREST? MY BASIC IS RS.7500/-PER MONTH? STATE BRIEFLY

4 Answers   Khalsa Tubes, Reliance,

---

Can anybody explain? what's consumeble items?

1 Answers  

---

how to record journal entry for tds on salary on quarterly basis?

28 Answers   Bharat Trading, BTA, Duravit, HDFC, Metatron, Reliance, TCS,

---

service tax present rate

22 Answers   Capital IQ, Shyam Indus Power, STFC,

---

what is prepaid expenses & entry

9 Answers   Ernst Young,

---

wct amount deducted by main company .that amount will be returned Subcontractor?If yes,how process is given me.

0 Answers   SR Engineers,

---

HOW MUCH PENALY IF SALES TAX IS NOT PAID ON DUE DATE IN HARYANA SALES TAX

0 Answers   RS Construction,

---