If bill of Rs 100000/- is submitted for road contract. to Z P.
Z P has to deducte following :
Vat TDS @ 2%
TDS @ 2%
Royalty Charges @ 5%
In this case, Royalty charges should be deducted on 100000/- or bal. amt after deduction of VAT TDS & TDS ?.
Please guide in this matter.
vat tds and tds is tax deposited on your behalf which u can set off with your returns.
royalty would be dedcuted on full amount, i.e 1 lacs
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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