Regarding tds-works contract

TDS 650 views 3 replies
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Sr.Accountant
71 Points Joined December 2013

Hi I am Vijayalaxmi please let me know immediately..!

I have to deduct TDS on Works contract for Individual(Carpenter). He is giving a bill which is inclusive of material which I cannot seperate the labour and material. Now here I have small doubt about it. Should I take the Total bill amount for TDS deduction or should I seperate the labour charges and deduct the TDS? Please let me know soon.

Thank you

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On 01 March 2014 at 11:05 Report
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Indirect Taxation
1246 Points Joined May 2012
No no you need to deduct the TDS on entire bill. Note further that if u r an entity than u need to submit the service tax also under reverse charge as pet rule 2 (1) (d). Total bill- 100 Rate of service 70%(actual rate provide in rule) So service 70 now 50% of above need to deposit as service tax
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On 01 March 2014 at 12:12
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Indirect Taxation
1246 Points Joined May 2012
Sorry 50% on which u need to deposit the service tax.
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On 01 March 2014 at 12:13
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Accounts Manager - Taxation
1771 Points Joined April 2009

You have to deduct TDS on full bill value.

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On 01 March 2014 at 12:41


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