Tds on work contract
This query is : Resolved
14 September 2011
Dear Friend
Can any one clarify the following
let assume that we are in Actual Deduction Scheme & Contractor has submitted bill
ie 75000 for Material
25000 for Labour Portion
-------
Vat 12.5% 9375
Ser Tax 10.3% 966
--------
Total 1,10,341
---------
on which Amount i have to deduct IT-TDS & WCT -Tds
please mail me Rajeshh_2008@yahoo.com
Dear Friend
Can any one clarify the following
let assume that we are in Actual Deduction Scheme & Contractor has submitted bill
ie 75000 for Material
25000 for Labour Portion
-------
Vat 12.5% 9375
Ser Tax 10.3% 966
--------
Total 1,10,341
---------
on which Amount i have to deduct IT-TDS & WCT -Tds
please mail me Rajeshh_2008@yahoo.com
CMA Ramesh Krishnan
(Expert)
14 September 2011
Income tax TDS need to be deducted on Labour portion plus service tax (25000+966)
WCT tds Can be deducted on total value of bill (but check with Local WCT act)
WCT tds Can be deducted on total value of bill (but check with Local WCT act)
14 September 2011
1)If material is purchsed other than from the awarder, no need to deduct TDS under section 194C because it is outside 'work'as defined in the said section.
2) Regarding WCT deduction as per VAT law, Remesh ji's view may be followed.
2) Regarding WCT deduction as per VAT law, Remesh ji's view may be followed.
14 September 2011
I am agree with Ramesh Ji
Abhishek Ranjan Singh
ARS Solution
email2ars@gmail.com
+91 9022838615
Abhishek Ranjan Singh
ARS Solution
email2ars@gmail.com
+91 9022838615
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