Tds for vatav kasar amt.

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

02 May 2013 IN CASE WE CREDIT CONTRACTOR LEDGER FOR RS 95000/- IN ONE YEAR FOR JOBWORK AND WE DEBIT CONTRACTOR LEDGER IN SAME YEAR FOR RS 5000/- FOR VATAV/KASAR THEN ON WHICH AMT. TDS SHOULD BE DEDUCTED FOR RS 95000/- OR 90000/- GIVE ANSWER WITH EXAMPLE AND RELEAVANT NOTIFICATION

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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14 June 2013 What was the contract ? It was for 95,000/- and who was liable to pay VAT is was contractor. If you have paid VAT for and on behalf of contractor that does not mean that the contract value has gone down. So it is on gross value and the Gross value is 95,000