Tds

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

25 February 2015 My client awarded a contract to contractor ABC Ltd. And the Contractor raised their first Running Bill for amount 1226792.00+service tax@4.944%(ie;60652.00).And the bill amount includes the cost of cement & steel supplied by my client.(amounts to Rs. 434400). My doubt is that on which amount my client has to deduct TDS, WCT & LWF ?

Rupesh Jain

Rupesh Jain (Expert)
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25 February 2015 you have to deduct the tds u/s 194C @2%on invoice value w/o service tax.
and WCT as per state vat act rate it may be 4% or 4.20%or 5% depend on the state vat act.

LWF will be deposit by the vendor company not you. but you can take challan and return copy.