TDS rate for furniture

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59 Points Posted on 04 November 2020
I have received furniture bill rs 127650 without GST but there are no separate charges for labor then I can deduct TDS? if yes on what percentage It is individual
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On 04 November 2020 at 17:10 Report
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Quick Summary
This discussion clarifies the TDS (Tax Deducted at Source) rate applicable to furniture purchases. If the bill includes labour charges without a separate breakdown, TDS is generally deductible. The current reduced rate, due to COVID-19, is 0.75% for individuals acting as contractors for furniture making, down from the usual 1%.

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Accountant
3662 Points Posted on 04 November 2020
Furniture purchased by you ?
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On 04 November 2020 at 17:11
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Profession
28261 Points Posted on 04 November 2020
If it is a composite bill having no bifurcation.
Then gst is applicable.
Otherwise bill has to be seperate for material and bill.
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On 04 November 2020 at 17:15
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Accountant
3662 Points Posted on 04 November 2020
If you given contractor for making furniture then you need to deduct TDS @ .75 % for individual
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On 04 November 2020 at 17:24
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Profession
28261 Points Posted on 04 November 2020
Wrong rate mentioned.
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On 04 November 2020 at 17:28
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Accountant
3662 Points Posted on 04 November 2020
Rate is right

Due to covid situation, government reduce rate of tds from 1% to .75%
2 Reply
On 04 November 2020 at 17:31
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59 Points Posted on 04 November 2020
Yes for office use
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On 04 November 2020 at 17:44
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837 Points Posted on 04 November 2020
Yes, tds to be deducted @ .75%
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On 04 November 2020 at 21:39

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