purchase of furniture
This query is : Resolved
29 September 2008
I have made a office cabinet through contractor. His bill including labour charges and materials amounted to Rs.25000/-. I have debited this amount to furniture account. Should I deduct TDS before making payment? Will there be diallowance for non deduction?
Regards,
Priya
Regards,
Priya
29 September 2008
Since your bill is composite of materials and labour charges ,TDS is applicable u/s 194C
If it was separate bill of materials and separate for labour than TDS was applicable on labour charges which may be nominal in your case.
If it was separate bill of materials and separate for labour than TDS was applicable on labour charges which may be nominal in your case.
30 September 2008
amounts paid to a contractor or sub contractor for carrying out any work (including supply of labour for carrying out any work. Your case if it is a single bill TDS will attract.
30 September 2008
Failure to deduct the whole or any part of tax at source : Penalty u/s 271C will attract i.e sum equal to the amount of tax which he failed to deduct.
01 October 2008
hey you have to deduct TDS on bill...however
TDS will be on(BIll total amount-Materials amount-labour charges)....this will be final...if you hav still doubt see works contract theory...ok
TDS will be on(BIll total amount-Materials amount-labour charges)....this will be final...if you hav still doubt see works contract theory...ok
01 October 2008
all of the above had told you about TDS deduction. and i am also agreed from there view about dedution and non deduction.
consequence: since you have purchased a fixed assets and didnot charge it to the profit and loss account hence it cannot be disallowed. only interest and panalty can be levied
solution: ask your carpenter to mark seprate charges for labour and material in the invoice.
consequence: since you have purchased a fixed assets and didnot charge it to the profit and loss account hence it cannot be disallowed. only interest and panalty can be levied
solution: ask your carpenter to mark seprate charges for labour and material in the invoice.
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
- Difference between Date of Payment and Date of Deduction?
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- Unregistered suppliers utility
- ITDS U/S.194T of Firm
- Bank details not Visible on Traces Portal
- URGENT-Eligible leaves being shown as 24 days for 3 years Articleship instead of 156 days in 108
- Cash balance limit and property purchases limit
- TDS ON EMAIL DOMAIN SERVICE BILL
- Non-Compliance documents have not been submitted by the contractors debited
- EXPORT COMMERCIAL INVOICE HSN CODE
- NRI starting business in India
- 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
