TDS APPLICABILTY
This query is : Resolved
12 August 2010
Dear Respected CA Members,
Could you explain the applicabilty of TDS on VAT.
Thanks & best Regards
Could you explain the applicabilty of TDS on VAT.
Thanks & best Regards
12 August 2010
If u are referring to deduct TDS on VAT then if TDS deductible on bill then TDS deductible on VAT also.
12 August 2010
This case arises generally when some material is also supplied by the contractor and they charge vat on such material.
In such case if separate bill is given for materials and contractual charges then TDS to be deducted only contractual charges but if consolidated bill given TDS to be deducted on total bill amount.
In such case if separate bill is given for materials and contractual charges then TDS to be deducted only contractual charges but if consolidated bill given TDS to be deducted on total bill amount.
12 August 2010
Thanks but I will make this Query more clear & precise. My Question is TDS on Work Contract TAX (VAT) since we have done the office renovation. I am not clear but there is some 5.00 laks exepmtion limit is there.
Please update me.
Please update me.
12 August 2010
The is a limit of Rs. 50,000/- (Rs. 75,000/- w. e. f. 01.07.2010) for payment for the whole year and Rs. 20,000/- (Rs. 30,000/- w. e. f. 01.07.2010) on a single bill payment u/s 194C.
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