tds on goldsmith
This query is : Resolved
caclub member
(Querist)
29 May 2016
my query is, if I issue 100 gms 24kt pure gold to goldsmith for making jewellery and I receive 100gms 22kt gold jewellery from him. I paid rs.3000/- as making charges to him and he took the difference of 24kt and 22kt as his wastage. so on what amount I will be liable to deduct tds.
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sanjeev kumar goel
(Expert)
01 June 2016
You will deduct TDS on making charges of Rs.3000/- not on the difference of 24 and 22 Kt gold value as he has returned you 100 gm of gold which you gave him no matter with the purity of gold as your contract is for making charges that is labour charges only.
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