Vat tds
This query is : Resolved
29 October 2011
some one please tell me what is the concept of VAT TDS? Please explain with examples with amounts and on which part it is to be deducted???
MJ Krishnamurthy
(Expert)
29 October 2011
Mr. Ganu,
In karnataka, TDS is required to be done on the amounts payable to a contractor executing works by the State or Central government,PSUs of State or Centre and some large industrial undertakings.The amount to be deducted is equal to the tax payable by the contractor.Such tds amounts will be remitted to the govt treasury and a certificate to that effect will be issued to the contractor.
MJK
In karnataka, TDS is required to be done on the amounts payable to a contractor executing works by the State or Central government,PSUs of State or Centre and some large industrial undertakings.The amount to be deducted is equal to the tax payable by the contractor.Such tds amounts will be remitted to the govt treasury and a certificate to that effect will be issued to the contractor.
MJK
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