Vat tds
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 April 2016
What is Vat tds ????? When it is applicable????? Pls explain ASAP.
11 April 2016
VAT-TDS applies in the case of works Contact and other
contact: Contractee shall be the eligible person for VAT TDS
deductor and he shall deduct TDS at the rate prescribed in
the State Statue.
contact: Contractee shall be the eligible person for VAT TDS
deductor and he shall deduct TDS at the rate prescribed in
the State Statue.
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 April 2016
What is the purpose of deducting Such VAT TDS and on which amount it shall be deducted?
11 April 2016
you have to apply for deduction no in prescribed form of your state vat rules . It is majorly taken for contractual work or work contract service where main contractor collect tds vat from sub contractor and deposit it by challan of vat and shown deduction in their vat return and paid excess amount over tds deduction as liability.
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