hi
pl tell me what is rate of TDS to be deducted by a Tiles or marble dealer.
OR
When does he should deduct TDS. is there any income limit.
thnx to all
4 Replies
Devendra
(Chartered Accountant)
(4775 Points)
Replied 10 March 2011
There is no TDS on Purchase / Sale of Tiles and Marbles. But TDS will attract only when Labour is used for fitting such Tiles or Marbles. Thus, you will be liable to deduct TDS u/s 194C on the Labour Charges paid. The TDS rate for Individual is 1% whereas for Co./ Regd, Firm it is 2%. You will have to dedcut TDS only when single bill goes above30000 and aggregate bill goes above75000 p.a.
You will have to dedcut TDS @ 20% if the deductee does not have P.A No. or has an invalid P.A No.
Regards,
Devendra
praveen
(Chartered Accountant)
(6971 Points)
Replied 10 March 2011
No TDS shall be deducted on marble or granite dealer. However the people who produce marble or granite have to pay TCS to the government
Recent Topics
- GST ON REIUMBURSEMENT ENTRY ON GST PORTAL
- Missing invoice in gst
- GST on consultancy
- Linking adhaar to UAN without employer
- WHETHER ITC REVERSAL TH. GSTR 3B OR DRC03
- Advance Tax For Freelancers
- Is fvu 8.8 version available ?
- Interest and penalty on advance tax shortfall
- Joint Account with 3 legal heirs.......
- TCS adjustment
Related Threads
CAclubindia
