Gold rates on 31-03-09

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This query is : Resolved

Suheel Ahmed (Querist)

29 July 2009 Dear Expert,

Company : Developer & Construction

Nature of Transaction : Rent for DG Sets

Party bill provided for Rs. 300,000/- &
architect has certified the same bill
as under

Please note that amount needs to be debited from the final bill of following Contractors in the proposed manner

Vendor Percentage

A-20%, B-30%, C-15% & D-35%

I debited above vendor's account as per architect & TDS deducted & remitted to Govt as per Contract Rate 2.266%(u/s194C)
in June-09

My question is the aforesaid trasaction will attract u/s 194I (TDS-Rent of P&M)

Whether it will attract u/s 194I,What can I do. Because I have already deducted & remitted to Govt as per Cont Rate (u/s 194C)

Pleasedo the needful, it is very urgent

Thanks,

If it is Final Bill, Total Contract Value is Rs. 300,000/- & E-TDS return also done in 15.06.09 as per Section 194C,What can I do

hitesh sharma

hitesh sharma (Querist)

29 July 2009 Can u tell me what were the rates of gold on 31-03-09

Shyam Lal Naik

Shyam Lal Naik (Expert)

29 July 2009 Prima facie it falls under 194I.

Please approach the AO(TDS) for necessary correction of the Code. Later on pay the differential tax.

Pls seek mor opinion.

Guest

Guest (Expert)

01 August 2009 Hi Hitesh,

the rate was 15150 per 10 gms as on 31.03.2009

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