Tds on magazine

This query is : Resolved

shilpa (Querist)
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12 August 2013 hi, how to calculate tds on magazine given to printing on contractor bases including vat or excluding....,

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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12 August 2013 TDS will apply on gross bill value including VAT only

shilpa

shilpa (Querist)
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13 August 2013 pl give some examples

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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13 August 2013 Under Income tax TDS section, all the sections ask to deduct the TDS on gross bill value only inclusive of all other taxes. only case exception is Rent u/s.194I.

shilpa

shilpa (Querist)
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14 August 2013 ok sir, but if we considered as contract then excluding vat tds should be deducted it is correct

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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14 August 2013 Basically VAT apply on the supply bills, where there is no TDS will apply

Only case you may get bills on Works contract, Supply & service bill come together, that time TDS apply on total bill only inclusive VAT

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