07 November 2017
Dear Mr.Ankit,
pls refer below Provisional and Follow accordingly
Section 194C Nature of Payment TDS from payment to contractor sub contractor Deductor :As per details Deductee :Resident TDS rate : if payee is individual/huf:1% other :2% Threshold Limit Single :30000 Total f.Y 100000 wef 01.06.2016 Time of deduction credit or payment which ever is earlier Other points : Material value excluded if shown in bill separately
my point is for e.g. ABC company contract with XYZ company for turnkey project. ABC Co. provided purchse order to XYZ co. (1) PO Supply (Material) (2) PO Services (3) PO Civil supply(material) (4) Civil Services. ABC co. TDS deducted to on all contract amount or only services amount? TDS provision no deducted on goods but co. contract for turnkey project what about tds????
09 November 2017
Dear., 1st one is only supply of Material then no need deductions on supply of materials...I assume as Services. Bcoz, You said Contractor...
Please follow the below details...
Basically no more deductions on Supply of Materials... We ll Deduct only on Services...
CAclubindia
