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Categories  >>  Accounting  >>  Taxation
 
 


 

 
 Audit interview questions  Audit Interview Questions
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Question
how to calculate sub contract tds his bill 48500?
 Question Submitted By :: Nagoor
I also faced this Question!!     Rank Answer Posted By  
 
  Re: how to calculate sub contract tds his bill 48500?
Answer
# 1
if sub contractor is individual or HUF 1% of tds we will 
deducted if sub contractor is other than individual or HUF 
we will deducted 2% of tds 
tds amount if sub contractor is individual or HUF tds 
amount is 485
tds amount if sub contractor is otherthan individual or huf 
tds amount is 970
 
Is This Answer Correct ?    7 Yes 3 No
Kalaveri.pradeep
 
  Re: how to calculate sub contract tds his bill 48500?
Answer
# 2
In every cases whether it is individual or huf/ Co.or Firm 
the rate of tds is 1.03% .
in this case the tds amount will be 
=48500*1.03%
499.55
 
Is This Answer Correct ?    8 Yes 0 No
Shabd Kumar Choudhary
 
 
 
  Re: how to calculate sub contract tds his bill 48500?
Answer
# 3
48500 TDS


48500 x 1% TDS=485/-
485  x 10%Surcharge =48.5/-
485  x 3% Edu.cess  = 14.55/-

= 485 + 48.5 + 14.55 = 548.05
 
Is This Answer Correct ?    8 Yes 2 No
Heera Sawant
 
  Re: how to calculate sub contract tds his bill 48500?
Answer
# 4
Rate of TDS ON Sub contract is 1% 
Education Cess is 2% on 1% of Sub contract Value.
and 1% is Higher education cess 

So, total dudution of TDS IS 1.03% 


If The contract value is 48500 deuduction of TDS is 
48500*1.03%= 499.55/-



With Thanks and Regards, 
Fareed, 
Accountant, 
Super Fire Engineering Private limited. 
Mobile No 9866887880.
 
Is This Answer Correct ?    8 Yes 3 No
Fareed Ahmad
 

 
 
 
Other Taxation Interview Questions
 
  Question Asked @ Answers
 
what ate the difference between tds and income tax and which form is used for deposit tds and income tax.give me detail infromation about this question.  1
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Can any one clearly difine what is Works Contract with suitable exemple  1
what is the tax rate or tax slab for the companies for AY 2009-10?  1
For the Quarter Oct-Dec 2008, we hav to give the service tax purchase bills and Sales bills whose payment are cleared in that particular quarter. if i missed any of the bills for the filing? shall i submit the missing bills inthe next quarter(Jan - Mar 09)?  1
i want current year tax deduction source please let me know?  3
What is the mode of payment of Entry Tax?  3
my tds has been deducted for financial year 2008-2009,will i get tds certificate for that and when,what is the use of the certificate  1
How can I calculate TDS AND FBT tax for a Travel Company? Travel-Plan1
what mean by tds on vat?  2
Which form we use for depositing VAT? Syntel6
what is the rates of depriciations for the year 2008-09 and how it is calculat?explain the methods of depriciations counting in asstes?  1
wHAT IS THE DIFFRANCE BETWEEN PAN NO. AND TAN NO. AND WHAT IS THE USE OF BOTH OF IT......?????  4
Company Should deduct TDS or not if a company calls a Saint (Sadhu/Mahatma) for a programme like Pravachan/ Katha/ Pooja ETC ??? If yes then Tax Rate ??? Pl reply in detail with reason of deduction.  2
what is excise duty, how much rate calculation on manufacturing goods?  36
I have purchase one air ticket from a travel agency. They allow 3000 rupees ticket to me for the total ticket purchase.But they debited staturoty TDS to me. I ask them for the legibility of this, they replaied they had received commission from airlines and airlines catch TDS from them and naturally it comes down to sustomers also. But my doubt is Airlines are allowed commission to Travel Agency and Travel Agency are not shared commission-they allowed discount. So is this TDS is applied for me or not?  2
can anyone tell me rates of TDS for payment of contract, consultancy, advertizing, statioenry, salary, professional charges, technical fees, & honorarium for the financial year 2008-09  4
Knowledge of filing of various returns under companies act  1
is hospital is not liable to pay tax on income is hospital is not bound to file sales tax, cst return, is hospital not liable to pay service tax on the room charges they take,  1
What is Entertainment Tax?  5
 
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