Tds on work contract
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 September 2014
there is a work contract of original work of reverse charge mechanism. Party A (individual)raises bill as
Rs. 35000 (which include material and labour) but not shown separately
Now party B make payment to Party A as
bill amount 35000
vat 35000*60%*4%=840
Service tax 35000*40%*(12.36/112.36)*50% =
770
tds 35000* 1% =350
Amount paid to party B = 33040
My question is
Whether tds is to be calculated on Rs 35000 or Rs 14000(35000*40% i.e. service portion)
Rs. 35000 (which include material and labour) but not shown separately
Now party B make payment to Party A as
bill amount 35000
vat 35000*60%*4%=840
Service tax 35000*40%*(12.36/112.36)*50% =
770
tds 35000* 1% =350
Amount paid to party B = 33040
My question is
Whether tds is to be calculated on Rs 35000 or Rs 14000(35000*40% i.e. service portion)
08 September 2014
If material Amount not shown seperately tds applicable on complete value of invoice
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
- Refund Annexure-B
- Liable to deduct tds and 44ADA
- Sale of Equity shares for Purchase of Residential Property
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- ECO SUPPLY REPORTIONG IN GSTR-1
- Is Interest applicable for payment made through credit ledger vide DRC03 for FY 2020-21 & 2021-22
- CCFS 2026 Schemed
- Subscription paid to foreign customer
- Two seprate Invoice needed
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
