TDS rate where invoice contains both vat & service Tax
This query is : Resolved
20 November 2010
hello everyone,
company has received follwoing invoice from its contractor
material 1000
vat@5% 50
labour charge 1000
service tax@10.3 103
Total 2153
how tax should be deducted assuming that single as well as annual limits is satisfied.
company has received follwoing invoice from its contractor
material 1000
vat@5% 50
labour charge 1000
service tax@10.3 103
Total 2153
how tax should be deducted assuming that single as well as annual limits is satisfied.
20 November 2010
Deduct TDS u/s 194C on total Bill amount. Since separate bill for material is not given.
TDS Rate...
Individual/HUF @ 1%
Others 2%
But it is better if the contractor provides separate bill for material and and service.
TDS Rate...
Individual/HUF @ 1%
Others 2%
But it is better if the contractor provides separate bill for material and and service.
20 November 2010
If the material is not purchased from the awarder,TDS provisions will not attract for the said transaction by virtue of the substituted section 194C w.e.f 1/10/2009.
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