tds effect
This query is : Resolved
17 December 2009
hii
Dear sir
i wanted to know about the Chargeability of TDS:
one party who does the work of printing audit report.
Co pays 40000 for printing 100 audit report ok
now payment made. co paid 2% tds on 40000and exp booked under printing and stationery and 2% effect of TDS net paymnet made to party.
my query is that whether prin& stat charged to TDS?
party ledger shows less TDS.party comes first time.cheque issued to party also.
undr which head TDS deducted pls xplain
Dear sir
i wanted to know about the Chargeability of TDS:
one party who does the work of printing audit report.
Co pays 40000 for printing 100 audit report ok
now payment made. co paid 2% tds on 40000and exp booked under printing and stationery and 2% effect of TDS net paymnet made to party.
my query is that whether prin& stat charged to TDS?
party ledger shows less TDS.party comes first time.cheque issued to party also.
undr which head TDS deducted pls xplain
KRISHNA KUMAR R C
(Expert)
17 December 2009
It is contarct of printing (i.e., it is also a work) which is covered under section 194C of the Income Tax Act and tds has to be made on this type of payments also.
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