Application of tds
This query is : Open
11 February 2016
Have a query on what amount TDS will be us 194C under the following scenario -
Paper Cost - 189000.00
labour charges for 47250.00
Vat on paper 5%. 9450.00
total bill 245700.00
my question is in the above situation what amount TDS under income tax act u/s 194c will be deducted.
pls advice
11 February 2016
TDS will be applicable @ 1% on 47250/- if supplier is Individual / HUF and
TDS will be applicable @ 2% on 47250/- if supplier is Company / Firm / Co-operative Soc / Local Authority.
It is assumed that labour charges does not include Service Tax.
It is also advisable to obtain separate invoice for Paper cost & Labour charges.
TDS will be applicable @ 2% on 47250/- if supplier is Company / Firm / Co-operative Soc / Local Authority.
It is assumed that labour charges does not include Service Tax.
It is also advisable to obtain separate invoice for Paper cost & Labour charges.
15 February 2016
Thank you Sir for your inputs. Have one query if the bills are not separate and vendor have charged both material and labour cost separately with Vat on material. kindly advise in this situation we deduct tax only on the labour cost.
15 February 2016
Thank you Sir for your inputs.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- Unregistered suppliers utility
- ITDS U/S.194T of Firm
- Difference between Date of Payment and Date of Deduction?
- GST Rate for Catering Services
- FCRA 6 E- Intimation
- Need Professional Opinion - AY 2012-13 Old Demand & AY 2026-27 Refund Adjustment
- ADDITION OF CHALLAN IN TDS RETURN FORM 140
- Non-Compliance documents have not been submitted by the contractors debited
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
