Tds u/s 94c & tds of wct
This query is : Open
21 August 2014
Sir, I have a query that to which amount we should charge WCT TDS and TDS 94C. For Example:-
Gross Bill 100.00
(+)Service Tax
(100*40%*12.36%) 4.94
TOTAl 104.94
(+)VAT
(104.94*75%*12.5%) 9.84
TOTAL 114.78
TDS U/s 194C @ 2% ?
TDS WCT @4% ?
Sir my query is that to which amount we have to charge TDS of 94C as well as WCT. Pls suggest me.
Thanks
Gross Bill 100.00
(+)Service Tax
(100*40%*12.36%) 4.94
TOTAl 104.94
(+)VAT
(104.94*75%*12.5%) 9.84
TOTAL 114.78
TDS U/s 194C @ 2% ?
TDS WCT @4% ?
Sir my query is that to which amount we have to charge TDS of 94C as well as WCT. Pls suggest me.
Thanks
21 August 2014
you have wrong calculation
vat not charged on service tax.
WCT charged on total billing amount.
and also TDS on total bill amount.
vat not charged on service tax.
WCT charged on total billing amount.
and also TDS on total bill amount.
Message likes :
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21 August 2014
i have a bill of DMRC and on that bill VAT charge on inclusive of service tax, this is cascading effect.
But please tell me WCT and 94C TDS Charge on inclusive of VAT amount.
But please tell me WCT and 94C TDS Charge on inclusive of VAT amount.
21 August 2014
WCT on 114.78
and TDS ON 109.84
and TDS ON 109.84
21 August 2014
AND PLEASE WILL YOU GIVE ME THE SECTION WHICH EXPLAIN THAT WCT TDS AND TDS U/S 94C CHARGED ON TOTAL BILL AMOUNT.
21 August 2014
WCT on 114.78
and TDS ON 109.84
and TDS ON 109.84
21 August 2014
THANKS RAJESH SIR, AND FROM WHICH SECTION I GOT THE WHOLE CLARIFICATION i.e. WCT TDS CHARGED ON TOTAL BILLING.
21 August 2014
S. 6B. Tax Deduction at Source :
"(1) Notwithstanding anything contained in this Act, an employer or class of employers which may be notified by the State Government for the purposes of this Section, from time to time, shall deduct tax from, and out of the amount payable by such employer to a dealer to whom a works contract has been awarded involving transfer of property in goods (whether as goods or in some other form) at the rate of 2 per cent of such amount payable towards such contract :
“Provided that no such deduction shall be made where the amount or the aggregate of the amounts payable to a dealer by such employer is less than rupees two lakh during any year :
“Provided further that, the quantum of such deduction shall not exceed the quantum of tax or an amount in lump sum by way of composition payable towards the works contracts :
“Provided also that, no deduction shall be made from any payment made to any sub-contractor by a principal contractor, where the principal contractor has assigned the execution of any works contract to the said sub-contractor :
“Explanation — Where any payment in the nature of an advance payment towards the execution of a works contract is made by an employer to a dealer and such amount is adjustable against the total contract value payable to the said dealer then, for the purposes of this sub-section, the advance payment shall be deemed to be the amount paid in respect of the works contract only when such advance payment is adjusted in part or otherwise, against the total amount payable towards the works contract :
kIND ATTENTION ON
"Amount payable by such employer to a dealer "
"(1) Notwithstanding anything contained in this Act, an employer or class of employers which may be notified by the State Government for the purposes of this Section, from time to time, shall deduct tax from, and out of the amount payable by such employer to a dealer to whom a works contract has been awarded involving transfer of property in goods (whether as goods or in some other form) at the rate of 2 per cent of such amount payable towards such contract :
“Provided that no such deduction shall be made where the amount or the aggregate of the amounts payable to a dealer by such employer is less than rupees two lakh during any year :
“Provided further that, the quantum of such deduction shall not exceed the quantum of tax or an amount in lump sum by way of composition payable towards the works contracts :
“Provided also that, no deduction shall be made from any payment made to any sub-contractor by a principal contractor, where the principal contractor has assigned the execution of any works contract to the said sub-contractor :
“Explanation — Where any payment in the nature of an advance payment towards the execution of a works contract is made by an employer to a dealer and such amount is adjustable against the total contract value payable to the said dealer then, for the purposes of this sub-section, the advance payment shall be deemed to be the amount paid in respect of the works contract only when such advance payment is adjusted in part or otherwise, against the total amount payable towards the works contract :
kIND ATTENTION ON
"Amount payable by such employer to a dealer "
21 August 2014
IS IT SECTION 6B OF DVAT ACT 2004, BECAUSE I AM NOT ABLE TO FIND OUT THIS SECTION.
21 August 2014
RAJESH SIR IN WHICH SECTION WE CAN GET WCT REFERENCE.
21 August 2014
Dear Dheeraj ,
This is for MVAT Act 2005, Sorry I did't reply for DVAT.
This is for MVAT Act 2005, Sorry I did't reply for DVAT.
21 August 2014
Ok
but sir can you pls tell me about dvat.
but sir can you pls tell me about dvat.
22 August 2014
any one can tell me according to which we charge TDS on net amount.
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