Labour charges paid to labour party on tds rate ?
May be deductable ?
Example
Iron purchase 16.500 mt. Per ton broking charges 200.00
- 1 Answers
- 1820 Views
- I also Faced
- E-Mail Answers
Answer Posted / raghuvstar@gmail.com
Labour Charges falls under 194C
As per 194C limit is the 75000 per annum,30000 per single transaction.
Rate of deduction is 1% for Individual&HUF,
2% for other than Individual&HUF (Company,Trust,Partnership)
As per your query TDS limit is not exceeding hence TDS deduction not required.
| Is This Answer Correct ? | 0 Yes | 0 No |
Post New Answer View All Answers
Aptitude Test Questions
How do you prepare mis reports?
Hi Everybody, Can anybody tell me how to create ledger in Peachtree Accounting software, means there are some Code, which Codes Comes under which ledger Account.your prompt Answer will be highly appreciated, Thanks & regards, Khan
what is profit and loss(dr) in cash flow statement?
how to calculate forefeiture of share when over subcription
Who is debtor purchaser
Is it necessary after every journal entry to show its treatment in P&L a/c? Eg. if I am asked to show journal entry of purchasing furniture & fixture on 1st Aug 06, i.e. Furniture & fixture a/c Dr. To cash/bank a/c Along with this, I have to pass following journal entry on 31st Mar 07?? P&L a/c Dr. To Furniture & fixture a/c
What is departmental accounting? Give an example
Tell me in balance sheet, where do you show tds?
Hi wht r da questions which are mostly asked in an Accounts related job for freshers?
Tell me what do you believe makes a successful account executive?
Let me know the liability positions of Partners
what are the disadvantages of back-flush accounting?
What is batch input? why we use batch input session in SAP(FICO)?
what is profit maximisation
