Tds on contracts
This query is : Open
05 February 2013
kindly guide me reg: TDS on contract,
what is the tds limitation for contract business,
Example:
my collegue made a contract for poultry business, his annual turnover is 11 lakhs, that company collect 2% in last month but collect 10% of TDS from this month on wards why? & he not run no other business, in what way he will return back the TDS amount.
what is the tds limitation for contract business,
Example:
my collegue made a contract for poultry business, his annual turnover is 11 lakhs, that company collect 2% in last month but collect 10% of TDS from this month on wards why? & he not run no other business, in what way he will return back the TDS amount.
Deepak Agrawal
(Expert)
05 February 2013
This is taxable @ 2% only. That Company should not pay tax @ 10% to Govt. but should pay only 2% and excess TDS deducted (8%) should be refunded back to your friend.
Message likes :
1 times
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
- Tax on Amount transferred in HUF Account
- Nursery business
- Working on Gold wastage during Melting of old gold jewellery
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- TDS on Dashcam rent and allied services
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- Section 269ST applicability for capital introduced by partner to his partnership firm
- Intimation under section 245
- ETDS return q4 25-26
- GST input credit on commercial property
- Royalty payments to the Mining Department for procurement of murum - GST input
- HOW TO ADJUST CREDIT NOTE AMOUNT ?
- Import Order Cancelled.
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
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
