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Categories >> Accounting >> Taxation


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 Taxation interview questions  Taxation Interview Questions (1917)
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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  
# 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 ?    38 Yes 10 No
Shailesh Chaure
# 2
Party has to deduct TDS only for the labour charges not for
material supply
Is This Answer Correct ?    37 Yes 11 No
# 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 ?    14 Yes 3 No
# 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 ?    6 Yes 5 No
Dhruvil Bhatt

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