whether tds wii be deducted on works contract
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 April 2011
sir i would like to know that if an educational society enters in to a contract for construction of a building is it a works contract and also liable to deduct tds if yes, at what rate.
29 April 2011
IF WORK CONTRACT IS FOR ONLY MATERIAL SUPPLY THEN NO NEED TO DEDUCT TDS
IF WORK CONTRACT IS FOR LABOUR AND MATERIAL SUPPLY AND CONTRACTOR GIVE THE SEPARATE AMOUNT REGARDING TO LABOUR AND MATERIAL IN THE INVOICES THEN TDS WOULD BE DEDUCTED ON LABOUR PART ONLY OTHERWISE TDS WOULD BE DEDUCTED ON WHOLE INVOICES
TDS RATE 2% IN THE CASE OF COMPANY
IN OTHER CASE RATE IS 1%
IF WORK CONTRACT IS FOR LABOUR AND MATERIAL SUPPLY AND CONTRACTOR GIVE THE SEPARATE AMOUNT REGARDING TO LABOUR AND MATERIAL IN THE INVOICES THEN TDS WOULD BE DEDUCTED ON LABOUR PART ONLY OTHERWISE TDS WOULD BE DEDUCTED ON WHOLE INVOICES
TDS RATE 2% IN THE CASE OF COMPANY
IN OTHER CASE RATE IS 1%
Message likes :
1 times
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
- Refund Annexure-B
- Liable to deduct tds and 44ADA
- Sale of Equity shares for Purchase of Residential Property
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- ECO SUPPLY REPORTIONG IN GSTR-1
- Is Interest applicable for payment made through credit ledger vide DRC03 for FY 2020-21 & 2021-22
- CCFS 2026 Schemed
- Subscription paid to foreign customer
- Two seprate Invoice needed
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
