Just a moment...

Top
FeedbackReport
×

By creating an account you can:

Logo TaxTMI
>
Feedback/Report an Error
Email :
Please provide your email address so we can follow up on your feedback.
Category :
Description :
Min 15 characters0/2000
Add to...
You have not created any category. Kindly create one to bookmark this item!
Create New Category
Hide
Title :
Description :
+ Post a Query
Post a New Query
Title :
0/200 char
Description :
Max 0 char
Category :
Delete Reply

Are you sure you want to delete your reply beginning with '' ?

Delete Issue

Are you sure you want to delete your Issue titled: '' ?

Discussion Forum

Back

All Issues

Advanced Search
Reset Filters
Search By:
Search by Text :
Press 'Enter' to add multiple search terms
Select Date:
FromTo
Category :
OR
Search by Issue ID:
NOTE: If you have inputs in both the fields, then results will be shown for issueId first.
Issue ID :

Liability of service tax

paresh zatakia

Dear Colleagues Mr.A,Mr.B,Mr.C,& Mr.D entered into a joint venture for a setting up an I.T.Park. Mr.C,& Mr.D prematuredly rertired from the J/V.At the time of retirement Mr.A,Mr.B paid lumpsum consideration of Rs.50 lacs to Mr.C.They mentioned that amount included amount payable to Mr.D. Mr.C paid Rs.20 lacs to Mr.D towards his share in retirement consideration of Rs.50 lacs.There is written document which mentions this fact.But Mr.C while making payment deducted TDS Under Section 194J. Querry Mr. D has an apprehension that since TDS has been deducted,service tax may be leviable. Infact the amount he received is towards his share in retirement consideration of the Rs.50 lacs. Is Mr.D liable to pay service tax on Rs.20 lacs he received towards his share in retirement consideration of the Rs.50 lacs ? Regards c.a.paresh Zatakia

Dispute Over TDS Deduction on Retirement Payment: Is Mr. D Liable for Service Tax on Rs. 20 Lakhs Under Section 194J? In a joint venture to establish an IT Park, Mr. A and Mr. B paid Rs. 50 lakhs to Mr. C as a lump sum retirement consideration, which included Mr. D's share. Mr. C paid Rs. 20 lakhs to Mr. D and deducted TDS under Section 194J, raising concerns about potential service tax liability. A respondent argued that Mr. C's deduction was unjustified since the payment was not for professional services but rather a share of retirement consideration. The primary concern remains whether Mr. D is liable for service tax on the Rs. 20 lakhs received. (AI Summary)
answers
Sort by
+ Add A New Reply
Hide
+ Add A New Reply
Hide
Recent Issues