Gold rates on 31-03-09

This query is : Resolved

Suheel Ahmed (Querist)
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29 July 2009 Dear Expert,

Company : Developer & Construction

Nature of Transaction : Rent for DG Sets

Party bill provided for Rs. 300,000/- &
architect has certified the same bill
as under

Please note that amount needs to be debited from the final bill of following Contractors in the proposed manner

Vendor Percentage

A-20%, B-30%, C-15% & D-35%

I debited above vendor's account as per architect & TDS deducted & remitted to Govt as per Contract Rate 2.266%(u/s194C)
in June-09

My question is the aforesaid trasaction will attract u/s 194I (TDS-Rent of P&M)

Whether it will attract u/s 194I,What can I do. Because I have already deducted & remitted to Govt as per Cont Rate (u/s 194C)

Pleasedo the needful, it is very urgent

Thanks,

If it is Final Bill, Total Contract Value is Rs. 300,000/- & E-TDS return also done in 15.06.09 as per Section 194C,What can I do

hitesh sharma

hitesh sharma (Querist)
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29 July 2009 Can u tell me what were the rates of gold on 31-03-09

Shyam Lal Naik

Shyam Lal Naik (Expert)
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29 July 2009 Prima facie it falls under 194I.

Please approach the AO(TDS) for necessary correction of the Code. Later on pay the differential tax.

Pls seek mor opinion.

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Guest

Guest (Expert)

01 August 2009 Hi Hitesh,

the rate was 15150 per 10 gms as on 31.03.2009