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pls tell what is TDS CONCEPT IN RELETION TO TRANSPORTOR
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Answer / m.amaan
WITH EFFECT FROM (W.E.F) 01.04.2010,IF THE TRANSPORTER
FURNISHES HIS PAN NO. ON HIS LR/BILL,THEN NO TDS WILL BE
DEDUCTED & IF THE TRANSPORTER FAILS TO FURNISH OR QUOTE HIS
PAN NO.ON THE LR/BILL THEN TDS WILL BE DEDUCTED DIRECTLY
@20% FROM HIS BILL/INVOICE
| Is This Answer Correct ? | 8 Yes | 0 No |
Answer / shankar kumar
The rule of tds deduction related contractor is
TDS Rate 2 %
Surcharge 10% (if amount exceed 10 lac)
EC 2% & SHE 1% total = 3 % on (TDS & Surcharge)
In sub-contract TDS rate is 1%
Condition
1. Tds deduction starts when Single payment exceeds 20,000/-
& agreegate payment exceeds Rs.50,000/-.
2. once deduction starts tds will be deducted on whole
amount which has been paid to the certain constractors
earlier without deduction.
| Is This Answer Correct ? | 4 Yes | 1 No |
Answer / rajnath maurya
this catagory falls under sub-contractor hence tds
applicable@ 1%+3% cess dont includ the service tax in such
calculation
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / ca.sunil kumar agarwal
W.e.f. FY 2010-11 new rule inserted by the Finance Minister
in this case if the transporter submit the PAN No to the
service taker in that case no TDS will be deducted but if
the transporter does not provide the PAN no then in that
case tds will be deducted on the entrie value of the
service provided during the Fy.
| Is This Answer Correct ? | 0 Yes | 0 No |
What is the differance between vat and tds d-vat and can we take benefit from it. for example if we sells to some one the entry is Dr. ram A/c 10000 Cr. Sales@4% 9600 Cr. Output vat@4% 400 now we received the cheque agst. sell the entry is Dr, Bank A/c 9573 Dr. Tds d-vat Receivable A/c 200 Dr. Tds Income Tax A/c 227 Cr. Ram A/c 10000 now If We recd. the Tds D-vat Certificate from our Debtor (Ram) What is the entry.....?????? and how can we get the benefit of it...???
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