16 December 2008
A bill shows material cost 75% and labour charges 25%.What I want to know is whether tds should be deducted on 100% of the bill amount or 25% of the bill amount?
In case of composite works contracts to the Government or other specified person, the material necessary for work may be supplied at a stipulated price by the contractee. The deduction should be based on the gross payment without excluding the cost of materials (i.e100%)
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