CA Jaspreet Singh (CA) (102 Points)
10 April 2010A bill is raised for material supplied & for services rendered, mentionning saperately the amount for materials & services. On what amount TDS will be deducted and under what section.
Pls, answer the above question with the concept.
Thanks
Ratan Deep Saxena
(Asstt Manager (Accounts & Finance))
(2998 Points)
Replied 10 April 2010
TDS U/s 194 C.
regards,
ratan
Ratan Deep Saxena
(Asstt Manager (Accounts & Finance))
(2998 Points)
Replied 10 April 2010
(iv) work shall include
(a).......
(b).......
(e)
manufacturingor supplying a product according to the requirement or specification of a customer by using material purchased from such customer,but does not includemanufacturing or supplying a product according to the requirement or specification of a customer by using material purchased from a person, other than such customer.
Where any sum is paid or credited for carrying out any work mentioned in sub-clause (e) of clause (iv) of the Explanation, tax shall be deducted at source
(i) on the invoice value excluding the value of material, if such value is mentioned separately in the invoice; or
(ii) on the whole of the invoice value, if the value of material is not mentioned separately in the invoice.
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