tds
This query is : Resolved
09 May 2009
whether tax deducted from material testing fees & what's the percentage? the party who do both the work labour work & material testing work , how to apply tds provision here. only 194c apply or 194c & 194j both apply separetly.party issue separete bill then how tds will apply.
09 May 2009
it is like a quality control work, it fall in profesional so tds will be deducted u/s 194J @10.30%
09 May 2009
Hi...
11.33% of the bill amount inclusive of service taxes (if billed), is the TDS for the testing services.
hope this resolves your query
11.33% of the bill amount inclusive of service taxes (if billed), is the TDS for the testing services.
hope this resolves your query
09 May 2009
As per circular no 720 of CBDT date 20.08.1995, a transaction which is covered under one section for tax deduction will not be covered under another section. so both the sections can not apply to a single transaction. in the given query if the bill is only for testing the material, it will be a technical service within the meaning of explnation 2 to section 9(vii) and TDS would be required to be deducted @ 10%+ Applicable SC and EC. If the contract is for supply of tested material, it will be a works contract and TDS @ 2.66% + Applicable SC And EC would be applicable.
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