1% TDS in case of Individual or 2% in case of other than Individual on invoice value. If labour charges shown seperately TDS will be deducted only on labour.
If not shown seperately? Should it be deducted on whole invoice value excluding GST?
Painter has given one bill, he is mentioned only material cost, but is not given labor cost in the invoice, can we deduct the TDS on the base value?
Please suggest..
In theory it doesn't matter if the material and labour are charged on the same invoice, so long as the distinction is clear.
In practice, most auditors tend to come up with the silly logic of TDS to be deducted on everything including goods clearly not subject to TDS if it is a single invoice.
But as Mr Tapse said above, 1 or 2 percent, depending on the type of contractor.
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
View Details
CAclubindia
