Is TDS deductible on building a furniture????
9 Replies
Sorabh Gupta
(Manager ( Taxation ))
(877 Points)
Replied 13 October 2009
Is it work contract or labour contract ........?????????
If work contract - WCT & if labour contract - TDS............
PRAVEEN KUMAR
(MBA (Finance) B.Com.(P))
(3443 Points)
Replied 13 October 2009
Yes Praveen,
It depends on Contract
on Labour Charges TDS shold be deducted
if work contract - Work Contract Tax
:-)
praveen
(Chartered Accountant)
(6971 Points)
Replied 13 October 2009
Oh.
can anyone tell me what is work contract tax.
praveen
(Chartered Accountant)
(6971 Points)
Replied 13 October 2009
Is that same as composition tax.
Ajay
(Accountant)
(72 Points)
Replied 13 October 2009
Yes TDs deducted @ 2% after 1/10/2009 now surchage & education cess abolish by govt
R K Raman
(Service)
(31 Points)
Replied 13 October 2009
If the contract is for supply of the furniture it will be a sale contract and no TDS
If the material is supplied by the Company and labour is billed TDS u/s 194C.
If the supplier brings in the material inside the premises and does the work there, it will be a works contract and TDS will apply for the labour portion if whown separately, if not for the total value.
Pawan Kumar
(audit manager)
(118 Points)
Replied 13 October 2009
Is WCT and TDS same? and what its rate?
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