Deduction of TDS on Works Contract Bills
This query is : Resolved
09 March 2009
Dear Sir,
This is Pratheek from Bangalore. My Doubt is : I have a bill of Rs.5,58,254/- it includes Rs.3,72,285/- of material cost, Rs.46,36/- is VAT , Rs.1,24,095/- is Labour Charges and Rs.15,338/- is Service tax . In which The value of the Material is going to be capitalised. So on Which amount i have to deduct T D S is it on Whole bill value or On Labour Charge.
Kindly guide me.
Regards
Pratheek
This is Pratheek from Bangalore. My Doubt is : I have a bill of Rs.5,58,254/- it includes Rs.3,72,285/- of material cost, Rs.46,36/- is VAT , Rs.1,24,095/- is Labour Charges and Rs.15,338/- is Service tax . In which The value of the Material is going to be capitalised. So on Which amount i have to deduct T D S is it on Whole bill value or On Labour Charge.
Kindly guide me.
Regards
Pratheek
09 March 2009
whole
since bill is rased for a contract.
bifurcation is done only for the purpose of charging indirect taxes
vat amou nt must be rs. 46536 and not 4636 i.e. 12.5% on material
since bill is rased for a contract.
bifurcation is done only for the purpose of charging indirect taxes
vat amou nt must be rs. 46536 and not 4636 i.e. 12.5% on material
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