Live Course on Drafting of Appeal and Reply of Penalty Notice by CA Sachin Sinha. Register Now!!

Contract Income

Deepak Kumar Singh (Incharge - Commercial) (38 Points)

28 April 2011

I am a Contractor supplying Labours to a manufacturing Unit. I have submitted overall Bill Value of Rs. 8 Lacs for the Year 2010-11. Please any one help me out how to calculate whether I have to Pay TDS also the company has deducted TDS. Can I get the refund of the Same.. Its Urgent

Reply
Follow
Share

10 Replies

Devendra (Chartered Accountant) (4775 Points)
Replied 28 April 2011

No TDS liability arises on your side. But you will have to file your Income Tax Return to claim the TDS. But you will get a refund only if the TDS is deducted in excess.

You will have to file ITR - 4 as per the business income earned by you

Regards,

Devendra

1 Like

(Guest)

you will have to file the income tax return for claiming the refund

U S Sharma (glidor@gmail.com) (21056 Points)
Replied 28 April 2011

Originally posted by : Deepak Kumar Singh
	I am a Contractor supplying Labours to a manufacturing Unit. I have submitted overall Bill Value of Rs. 8 Lacs for the Year 2010-11. Please any one help me out how to calculate whether I have to Pay TDS also the company has deducted TDS. Can I get the refund of the Same.. Its Urgent

TDS so deducted would be available to set off against your income tax liablity / refund, provided u file the return of your contracting business with incometax for the year, in ITR 4

Deepak Kumar Singh (Incharge - Commercial) (38 Points)
Replied 28 April 2011

I also want to know the how to Calculate Tax for the Year 2010-11 on Rs. 750000/- Bill Value out of which I have Paid to Daily Labour Rs. 675000.00 Pls. help me out