tds on contract


Gnanam Prakash   11 September 2019

Gnanam Prakash

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Sir supply of spares and service raised in one invoice in which both suppy of material and supply of service is separately identifiable...whether tds to be deducted on labour portion only or tds to be deducted on the entire invoice value??

CS Aditi Pant (Practicing CS & Faculty)     11 September 2019

CS Aditi Pant
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Greetings Students,

I hope you all are preparing hard for upcoming attempt. This year I noticed that in the CA Inter results, many of my students fell short of aggregate by < 5 marks (in general, range could be wider for a larger sample set). I was unpleasently surprised by the fact that such a small margin nullifies months of hardwork. So pondering over the possible solutions for this problem, I decided to launch a series of freely available video lectures on Auditing and Aussurance for CA Inter students.

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Because this paper can prove to be a high scoring subject, IF PREPARED WELL and can help you score 10-20 extra marks to CLEAR THE AGGREGATE.

Generally students allot 15-25 days for auditing towards the later half of their preparation. So its obviously important to study SMARTLY and EFFICIENTLY. As a student, you should hit all the key points and leave out all the redundancy to quickly cover 100% of the course.
So the good news is - I have already eliminated all the redundant information from exam perspective and you only get whats important for writing good answers in the exam.

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Video Lectures on Fundamentals of Auditing

RAJA P M ("Do the Right Thing...!!!")     11 September 2019

RAJA P M
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@ Gnanam.,

Yes... TDS will be deductible on entire invoice value (basic value).


@ CS Aditi Pant.,

It's very bad...
It's not like a professional...

avater

Suresh Thiyagarajan (Student)     11 September 2019

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1. As per explanation (i) sec 194C(3) it is clarified that if the value of the material is separately specified in the invoice then TDS shall not be deducted on the material portion. 
2. This is for a simple reason that materials being part of the work will not contain profit portion or the revenue of the contractor. Even it does contain it is a sale of a product and sale of product will not come under the purview of TDS. 
3. Hence, TDS u/s 194C is to be deducted only on the labor portion which is the revenue for the contractor. 
Please correct me if the above solution has an alternative view. 

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sabyasachi mukherjee   13 September 2019

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But nowadays it has become mandatory to get himself registered as Works Contractor.
Registration under Gst.
will be mzndatory if the contractor turnover exceeds Rs.1.5 crores.

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CS Aditi Pant (Practicing CS & Faculty)     15 September 2019

CS Aditi Pant
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@ Raja P M Could you please clarify your comment? And how did my post land here at the first place? This post was posted on CA IPCC category under Auditing sub-topic.

RAJA P M ("Do the Right Thing...!!!")     16 September 2019

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@ CS Aditi Pant.,

Here a person asking a query. Your post not related to the query. So, I said that above. Bcoz, Somebody doing the same without related posting to query...

why not You / they post the topic in new forums...?

avater

CS Aditi Pant (Practicing CS & Faculty)     16 September 2019

CS Aditi Pant
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@ Raja PM. I have already emailed support team of caclubindia.com to report this event. To me it looks like backend problem in database request. Might be possible that concurrent requests to database tables got messed up and the server glitched to assigned faulty key/id to my post that actually belonged to this thread. Anyway I have mailed the team to move my post to relevant section instead of displaying it here. BTW thanks for the comment and bringing this to my notice.

RAJA P M ("Do the Right Thing...!!!")     16 September 2019

RAJA P M
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Originally posted by : CS Aditi Pant
@ Raja PM. I have already emailed support team of caclubindia.com to report this event. To me it looks like backend problem in database request. Might be possible that concurrent requests to database tables got messed up and the server glitched to assigned faulty key/id to my post that actually belonged to this thread. Anyway I have mailed the team to move my post to relevant section instead of displaying it here. BTW thanks for the comment and bringing this to my notice.

 

Ohhh Okay Okay...

I think it's posted by You as Somebody's same way. So Sorry if its hurting You...

 

GOOD LUCK...

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