30 November 2009
A assessee doing Textiles Business, he doing Purchase Yarn after that Bleaching work , Dryeing work & Weaving works made. in this case Tds Applicable or not for Bleaching , Dyeing , Weaving Work, annual turn over exceeds 40 laks please give me full details. any benefit avail for Financial year 2007-2008.
30 November 2009
If the bleaching work, dying etc, is outsourced on a contract basis than ofcourse TDS is applicable. If the same is done inhouse by the employees of the assessee than TDS is applicable if salary/wages of the employees exceeds exemption limit.
11 December 2009
TDs is applicable in your case as it is a works contract. If your assessee is a proprietor ship concern, 1st year of audit is exempted from TDS provisions.
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