work contract tax
This query is : Resolved
28 June 2009
What is the defination of works contract and on what amount TDS is deducted. is there any provision that says, 30% should be considered as labour charges and on the rest of bill amount i.e. 70% is to be taken for deduction of TDS @ 4%.
28 June 2009
where labour is also incloved and material is also invloved then it is called work contract.
TDS @2% u/s 194C on whole amount including for material and labour is deductible.
TDS @2% u/s 194C on whole amount including for material and labour is deductible.
29 June 2009
“works contract” means a contract wherein,
transfer of property in goods involved in the execution of such contract is leviable to tax as sale of goods.
70%-30% issue is not in IT Act,1961 but certain states has included such provisions in their respective VAT Act.
transfer of property in goods involved in the execution of such contract is leviable to tax as sale of goods.
70%-30% issue is not in IT Act,1961 but certain states has included such provisions in their respective VAT Act.
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
- GSTR-1A How to update Invoice
- Excess salary payment.
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- TDS on Purchase of Immovable Property by NRI from NRI
- Stamp Paper for partnership firm change new income tax 2025
- Capital gain from sale of house property
- SFT Cash Deposit in Current Account
- Copyright software
- When TDS on GST applied
- Cash gift by grand mother to her grand daughter
- 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
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
- Updated return in budget 2026
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
