TDS on Work Contracto
This query is : Open
Quick Summary
05 July 2021
Paid Rs. 1 Lakh advance against Supply & Installation Works, as per PI Rs. 100000 to be paid for supply and 15000 for Installation
Is TDS to be deducted on the same, this could be the first and last transaction with vendor
Is TDS to be deducted on the same, this could be the first and last transaction with vendor
06 July 2021
TDS under section 194c applicable on advance payment as it's works contract.
06 July 2021
At what amount TDS to be deducted at Rs.115000 or Rs. 15000
Kindly guide
And as the threshold not crossed still tds to be deducted ?
Kindly guide
And as the threshold not crossed still tds to be deducted ?
06 July 2021
At what amount TDS to be deducted at Rs.115000 or Rs. 15000
Kindly Guide
And as the threshold not crossed still tds to be deducted ?
Kindly Guide
And as the threshold not crossed still tds to be deducted ?
06 July 2021
If the transaction is covered under section 194C and consolidated contracted price for the work agreed is Rs.1,15,000/-. Then threshold limit of Rs.30,000/- prescribed under Section 194C per contract has exceeded. Hence liable to deduct tax on Rs.1,15,000/-
But if the principal object of contract is sale of goods and contract for work is supplementary then this section won't apply on value of goods i.e., Rs.100,000/-. In that case TDS will not be attracted as threshold of Rs.30,000/- has not been exceeded.
It is better to seek professional opinion with complete details of the transaction
But if the principal object of contract is sale of goods and contract for work is supplementary then this section won't apply on value of goods i.e., Rs.100,000/-. In that case TDS will not be attracted as threshold of Rs.30,000/- has not been exceeded.
It is better to seek professional opinion with complete details of the transaction
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
- CAPITAL GAIN BASE ON NOTIFICATION
- Form 140 tds
- ITDS U/S.194T of Firm
- NRI starting business in India
- Unregistered suppliers utility
- Eway bill not cancelled within 24 hous what can be due
- EXPORT COMMERCIAL INVOICE HSN CODE
- Demand Outstanding AY 2013-14 TDS Deducted not shown in 26as
- Capital gain on sale and purchase of plot
- Non-Compliance documents have not been submitted by the contractors debited
- Taxable or Tax exempt
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
