Tds u/s 194c
This query is : Resolved
05 May 2014
hello
i want to know whether tds to be deduct or not?
i am working in a co where we had given contract for construction of seed plant which amounts to rs.60 lakhs. All the material and labour are arranged by the contractor we pay a lumpsum amount by way of instalments
is tds to be deductable on this transaction as the transaction covers under the defnition of works contract?
but the material and labour are arranged by contractor himself?
finally if tds deductable on what amount i.e., whether on contract value 60 lakhs or value excluding material
thanks & regards
Avinash
05 May 2014
it will be on the contract value i.e gross amount tds will be applicable.
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