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I am George Moses from Mumbai I am asking the how to
clculate the TDS on Labour ? Sub LAbour.
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Answer / motilal
labour is contractual job for tds . for calculating you
calculate TDS 2% of amount paid + 2% of deducted amount of
tds for cess + 1% of deducted amount of tds for edu. cess
i.e 2.06% of whole amount for deduction.
And for sub labour :-
calculate TDS 1% of amount paid + 2% of deducted amount of
tds for cess + 1% of deducted amount of tds for edu. cess
i.e 1.03% of whole amount for deduction.
| Is This Answer Correct ? | 6 Yes | 0 No |
Answer / yash
there are certain limits for deducting tds for individuals,
firms, companies, co-operative societies etc.
1)When you make a single payment of Rs. 20,000/- or
2) Total bill exceeds Rs. 50,000/- in the financial year
2.266% for contractors & 1.133% for sub-contractors is the
maximum limit of tds you can deduct.
other wise there is 2.060 & 1.030% is also there
| Is This Answer Correct ? | 7 Yes | 2 No |
Answer / thanuja
Labour is nothing but contract job. Calculate TDS @ 2.266%
on the total job work in case of labour work. In case of
sub-labour or sub contractor, TDS rate applicable is 1.133%
| Is This Answer Correct ? | 6 Yes | 4 No |
The TDS on Contractor is 2%, and in case of Sub-Contractor it is 1%.
| Is This Answer Correct ? | 2 Yes | 1 No |
Answer / sudeep
Plz clarify my doubt, Suppose the Job work bill was submitted by the party for Rs 10000 then tax will be calculated as 10000/102*2= 196.
Expense 10000 dr
To Supplier 9804 cr
To Tds 196 cr
Is this entry correct
| Is This Answer Correct ? | 0 Yes | 2 No |
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3 Answers Chartered Accountant,
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Audit 
