If a creditor fall under work contract (Material+labour supply) raise different invoice for material of Rs 28 lac and labour of Rs 7 lacs. TDS deducted on which amount ???
4 Replies
Aman Kumar
(Accounts Executive)
(744 Points)
Replied 20 February 2019
TDS not applicable on Material purchased,
TDS calculate on 7 Lakh
JAY K VALBUK
(STUDENT)
(22 Points)
Replied 20 February 2019
DEAR BISWAJIT
TDS HAS BEEN DEDUCTED ON ₹ 700,000 @ RATE OF 1% IF CONTRACTOR/SUB-CONTRACTOR IS INDIVIDUAL/HUF OTHERWISE @ RATE OF 2%.
Diwaker Zee Jha
(Student)
(22 Points)
Replied 20 February 2019
TDS deducted only on Rs. 7 lacs.
1% - Individual / HUF
2% - Others
1% - Individual / HUF
2% - Others
BISWAJIT
(service)
(179 Points)
Replied 20 February 2019
1) if the contractor raise a single invoice of Rs 35 la s and segregate the material value 28lacs and labour charges 7 lacs . then in which amount TDS applicable on what amount. 2) give 35 lacs bill without specific the material and labour charges then TDS applicable on what amount
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