TDS on Furniture COntract

Is it work contract or labour contract ........?????????

If work contract - WCT & if labour contract - TDS............

Yes Praveen,

It depends on Contract

on Labour Charges TDS shold be deducted

if work contract - Work Contract Tax

:-)

 Oh.

can anyone tell me what is work contract tax.

 Is that same as composition tax.

Yes TDs deducted @ 2% after 1/10/2009 now surchage & education cess abolish by govt

If the contract is for supply of the furniture it will be a sale contract and no TDS

If the material is supplied by the Company and labour is billed TDS u/s 194C.

If the supplier brings in the material inside the premises and does the work there, it will be a works contract and TDS will apply for the labour portion if whown separately, if not for the total value.

Thanks all

Is WCT and TDS same? and what its rate?

 No they are different