Tds under 194c
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 October 2011
We engaged one contractor for advertising work-Hoarding- Total Bill Amount is Rs. 141000/- out of that material part is 101000/- balance 40000/- towards labour, freight and profit.
Under 194C we deducted TDS for labour and profit portion excluding freight and material portion .Whether it is correct.
In his bill he is showing all items seperately.
Please advise
Under 194C we deducted TDS for labour and profit portion excluding freight and material portion .Whether it is correct.
In his bill he is showing all items seperately.
Please advise
05 October 2011
If the bill is showing seperate charges for material and labour, then TDS should be deducted only on labour portion and not on gross amount.
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