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Categories >> Accounting >> Taxation
 
 


 

 
 Audit interview questions  Audit Interview Questions (428)
 CompanyAffairs CS interview questions  CompanyAffairs CS Interview Questions (158)
 Taxation interview questions  Taxation Interview Questions (1899)
 Accounting General interview questions  Accounting General Interview Questions (2810)
 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4363)
Question
sir, i have charged labour charges with material bill to x 
party for Rs.211000/-  plz explain me how much TDS amount 
will deducte by party..
 Question Submitted By :: Taxation
I also faced this Question!!     Answer Posted By  
 
Answer
# 1
if the bill was bifercated in labaour and material than TDS
will be deducted on labour charges otherwise TDS will be
deducted on invoice amount.
 
Is This Answer Correct ?    35 Yes 10 No
Shailesh Chaure
 
Answer
# 2
Party has to deduct TDS only for the labour charges not for
material supply
 
Is This Answer Correct ?    35 Yes 11 No
Soundararaju
 
 
 
Answer
# 3
According to income tax ready recknor, if in the same
invoice party has mentione the labour charges separately
then the TDS to be deducted on the labour charges only & if
they did not mention separately the charges of labour then
the TDS should be on Invoice Value.
 
Is This Answer Correct ?    12 Yes 3 No
Sachin
 
Answer
# 4
If the situation is as above than one has to deduct tax on
total amount of bill i.e material + labour = total amount
on which TDS is to be deducted. Refer Circular no.715 dated
August 8,1995. if consolidated bill given and no separate
bill given than on gross amount of bill TDS is deducted.
 
Is This Answer Correct ?    5 Yes 4 No
Dhruvil Bhatt
 

 
 
 
Other Taxation Interview Questions
 
  Question Asked @ Answers
 
DEAR SIR,PLEASE INFORM US THAT BETWEEN BILL DATE & INWARD DATE WHAT DATE WE HAVE TO WRITE IN "C" FORM.AS WHEN WE RECD.BILL IN DATED OF 30TH JUNE, & WE ARE TAKING THE SAME IN JULY AS OUR INWARD DATE, IN THIS CASE QUARTER HAS BEEN CHANGED & PARY IS ASKING FOR BILL DATE IN "C" FORM INSTEAD OF INWARD DATE.KINDLY HELP US IN THIS REGARD-RAJESH PATEL.PH.079-25624003   1
we have got a bill of maintinance charges (material Bill only. bill amount is rs. 5000/- now my question is how much wct we have to cut.   1
which amount filling in c form (in invoice) its urgent basic value of item + excise duty + cst   2
Please tell me what is the meaning of equity share, dividends,share exchange,etc, please give me clear & briefly answer? ComSoft 5
If an employee joins a new company, who is liable to transfer his PF amount from old company to new company, and what is the process for that ?   2
We are generally give order to the printing company for printing our uniqe file,calender,sovenour,answer sheet,envelop etc, when company submite the bill it charge the bill includes vat@4%, so can we deduct the TDS on total invoice value or only cost amount (exclude the vat).   8
at the time of deduction TDS any type including Service tax or not   1
On what amount of sale Excise Duty levied?   5
C Form required for Exempted Inter-State Sales?   3
at what percentage of tax is collected for non submission of 'c' form by the commercial tax authorities   2
how to calculate T.D.S on the basis of current I.Tax slab if the monthly salary is 50,000 p.m.   8
if bank deduct the tds, it should show in p&l or balance sheet?   2
 
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