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TDS RATE UNDER WORKS CONTRACT

sitaram (Executive Accounts) (136 Points)

03 June 2009

What is rate of tax of tds under works contract

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8 Replies

krishna iyer (Sr.Finance Manager) (197 Points)
Replied 03 June 2009

payment u/s 194 C is for any sum paid. 2% applicable for entire contract value

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M P Singh (Service - Finance & Taxation) (180 Points)
Replied 04 June 2009

Originally posted by :sitaram

Hi,

please mention the name of state you are talking about ?

Regards,

M P Singh

D.Bhaskar (CA Final,) (42 Points)
Replied 04 June 2009

Hi..,

Its deppending upon the state where is work done.., Diffrent states have diffrent Rates.. But its will be 2% & 4%

SRIKANT MAHOUR (CA-Final & MBA) (30 Points)
Replied 04 June 2009

i want to know that Draft of ITT traning made on whom favour .please help me thanks in advance. i could not found application form of ITT Registration. please send me form.

CA. Dashrath Maheshwari (TaXpert) (15103 Points)
Replied 04 June 2009

Originally posted by :krishna iyer
"	payment u/s 194 C is for any sum paid. 2% applicable for entire contract value	"

hey krishna, he is talking about works contract tax yaar.

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krishna iyer (Sr.Finance Manager) (197 Points)
Replied 04 June 2009

Kerala 8% for regd dealers., 10% for unregistered dealers.,

But in Kerala, there is a facility for assessing Works contract tax separately, but putting an application to the assessing authority, and submitting all bills (local purchase & inter-state purchase). He will assess tax (which can be lower than 8% ) and issue a certificate for the same. In such cases, awarder need deduct tax as per said certificate only

Shailesh satvara (JOB (Accounts & Finance)) (76 Points)
Replied 09 June 2009

Originally posted by :sitaram
"	What is rate of tax of tds under works contract Pl reply	"

Doshi lalit (Consaltancy) (75 Points)
Replied 13 June 2009

Payment U/S,194 c are payable of TDS @ 2 % up to ten Lac and Cess over all 3 % = 2.06 % and more than Rs. Ten lac Sercharge @ 10 % aplicalbe = 2.26 % on u/s, 194 -C