Tds on works contract
This query is : Resolved
28 February 2014
As per the circular 01/2014, TDS should not be deduced on service tax component. So when we are deducting TDS on works contract u/s 194C of IT Act,1961, should we consider the base amount plus vat portion for deducting TDS or only on the base amount we hav to deduct TDS.please explain. Thanks in advance.
28 February 2014
The said circular is specified only service tax component not VAT. hence TDS will apply inclusive of VAT
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