When TDS should be deducted? when payment more than 20000 or invoice boked for more than 20000. because in books of TDS in is written as TDS deduct when single payament more than 20000, at the same time TDS not deductable for More than Single Payment or Credit more than 20000. Whiat is proper?
TDS - Contractors
Page no : 3
Anil
(Chartered Accountant)
(80 Points)
Replied 03 July 2008
Pls find attached the TDS chart File
Attached File : 21 copy of tds chart.xls downloaded: 248 times
Anil
(Chartered Accountant)
(80 Points)
Replied 03 July 2008
One has to deduct tax in case of contractors/ subcontractors as follows:
when single payment is more than Rs.20000/-
or
when total payment or credit exceed Rs.50000/- in the whole year
(Guest)
If i have received Labour Bill of Rs.10000/- including P.F. 800, ESIC-200 & S.T. 1000/-, So what is the amount of TDS qualifining whether its 8000/- or 10000/-, please give your valued suggestion.
and all statutory charges like P.F. ESIC, Service tax which is charged in bill, on such amount can we deduct the TDS?
Mrugesh
(CA Final Student)
(40 Points)
Replied 09 September 2008
No, TDS not applicable to Office Stationery because it is a material received. TDS applicable on Contranct or services ect. are not applicable.
Nischint
(Article)
(83 Points)
Replied 10 September 2008
tds should be deducted on gross amount, inclusive of service tax.
C RAJA
(Employed)
(20 Points)
Replied 10 October 2008
| Originally posted by :Mukesh Trivedi | ||
| " |
Dear Rao,
Dear Mr. Rao, Mr. Godhra is correct, you have missed a pertinent question, TDS is covered under section 194J and not 194C. Regards. C. Raja |
" |
SRIKANTH
(Student)
(300 Points)
Replied 10 October 2008
Tds is to be deducted on RS.10469/-(Inclusive of Service Tax)
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