Tds on income tax and wct in case of job work
This query is : Resolved
04 November 2011
We are automobile pvt.ltd. company. we have ten workshops in delhi.
Several contractors( individual person & company) do job work for us
In my knowledge, there are two type of tds (1) WCT (2)income tax .
Which one is applicable in our case.
suggest me.
We are automobile pvt.ltd. company. we have ten workshops in delhi.
Several contractors( individual person & company) do job work for us
In my knowledge, there are two type of tds (1) WCT (2)income tax .
Which one is applicable in our case.
suggest me.
Hitender Gaur
(Expert)
05 November 2011
Dear Vinay,
TDS of WCT is applicable only when some one raised or transferring ownership right of material to you after applying skill on material under a contract.
TDS of Income Tax is applicable as per guidelines of of income tax under section 192,193,194 etc.
It may be possible on a single bill both TDS (WCT & Income Tax) applied at same time.
So please consider each and every case and terms and conditions separately and widely before taking any decision. for more detail plz provide a bill detail.
TDS of WCT is applicable only when some one raised or transferring ownership right of material to you after applying skill on material under a contract.
TDS of Income Tax is applicable as per guidelines of of income tax under section 192,193,194 etc.
It may be possible on a single bill both TDS (WCT & Income Tax) applied at same time.
So please consider each and every case and terms and conditions separately and widely before taking any decision. for more detail plz provide a bill detail.
Message likes :
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Rupesh Jain
(Expert)
02 July 2013
on job wrok if your are paying Rs. 70000/- in year as job work charges against bill
or Rs. 30000/- in single bill then you will be liable to deduct TDS @ 1% on individual and 2% on Company pvt or ltd
or Rs. 30000/- in single bill then you will be liable to deduct TDS @ 1% on individual and 2% on Company pvt or ltd
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