Tds on job work
Virendra Chauhan (Manager Accounts) (121 Points)
05 January 2017Virendra Chauhan (Manager Accounts) (121 Points)
05 January 2017
Harsh Singhal
( )
(81 Points)
Replied 05 January 2017
Hey virendra, answer to your case of work contract being manufacturing or supplying product according to specification(by using material from such customer),tds shall be deducted on the invoice value excluding the value of material purchased from such customer,if such value is mentioned separately in the invoice.where the material component has not been separately mentioned in the invoice,tds shall be deducted on the whole value of the invoice.
Hence tds will be deducted on Rs 20,000 only if mentioned on invoice seperately.
Cheers !