Work Contract Tax in Maharashtra
This query is : Resolved
Anand Solanki
(Querist)
19 October 2007
Suppose a company (A Ltd.) which is a service oriented company gives a contract to a contractor (B Ltd.) for interior work of a newly acquired premises. Total contract value is 1.5 crores. The contractor charges 12.5% on 80% of the contract value and service tax on 20% of the value. Company (A Ltd.) deducts TDS on contract under income tax act. Do company (A Ltd.) needs to deduct TDS under section 31 of MVAT, 2005 on payment made to contractor (B Ltd.). If yes, then on what amount it needs to deduct TDS under MVAT.
20 October 2007
As per the act if the total amount paid to the contractor exceeds Rs. 5 lakhs excluding taxes then TDS @ 2% to be deducted under MVAT for a registered dealer and 4% for a non registered dealer.
This TDS is over and above the TDS deducted under Income Tax Act.
I hope this clarifies your query
This TDS is over and above the TDS deducted under Income Tax Act.
I hope this clarifies your query
05 November 2007
TDS @ 2% to be deducted under MVAt for RD and 4% for URD.
I hope query is resolved.
I hope query is resolved.
Ravikumar.G
(Expert)
09 November 2007
Thanks for the inputs
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
- Clarification on GST, TDS, and Accounting Provisions for Import/Export Commission Agents,profes. ser
- Clarification on GST, TDS, and Accounting Provisions for Import/Export
- Reward for festival
- 18% Rent a cab
- Accounting Treatment of Civil work to install PORTA Cabin for office use
- Rectification under processing even after 6 months cpc portal
- RCM and same line
- Capital gain on commercial property and investment in residential property
- Rent agreement of House of deceased person
- Appointment of Auditor By Form ADT-1
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
