Interested to Buy Any Domain ? << Click Here >> for more details...
Sir,
An Awarder make part payment to the Contractor after
deducting retention money @5%. The retention money will be
paid to the contractor when the contract work is fully
completed.
Here my question is,when the Awarder has to deduct tax on
retention money, at the time of deducting the retention
money or at the time of payment of retention money when the
contract is completed?
Here "Tax" means Income Tax, VAT, Service Tax etc.
Please reply
Thanking You
- 2 Answers
- 7653 Views
- I also Faced
- E-Mail Answers
Answer Posted / surjetsharma
TAX MEANS IS TDS OR INCOME TAX
| Is This Answer Correct ? | 3 Yes | 1 No |
Post New Answer View All Answers
Dear Experts, I need your help in deriving a formula for calculating three taxes with a combination of cumulative and inclusive tax. Here are the examples with expected result. Please let me know the formula on how to get the given result. Example1: Total Product Value (V) = 1000 (with inclusive of all 3 taxes and below mentioned cumulative combinations) Tax1 rate is 10% and Tax1 is inclusive. Tax2 rate is 10% with Tax2 is inclusive and cumulative of Tax1 Tax3 rate is 10% with Tax3 is inclusive and there is no cumulative of Tax1, Tax2 Expected Results are: Tax1=76.34 Tax2=83.97 Tax3=76.34 Let me know formula to derive above values? Example2: Total Product Value (V) = 1000 (with inclusive of all 3 taxes and below mentioned cumulative combinations) Tax1 rate is 10% and Tax1 is inclusive. Tax2 rate is 10% with Tax2 is inclusive and cumulative of Tax1 Tax3 rate is 10% with Tax3 is inclusive and cumulative of Tax2 Expected Results are: Tax1=75.70 Tax2=83.27 Tax3=84.03 Please let me know formula to derive above values? Thanks in advance.
when form h, form d, form 38, form h issu , what is the process of get it , who is the liable to get it , any % tax apply against issu this form, please give me answer on my e.mail sonidilip87@yahoo.com
HOW CAN TAKE THE MAXIMUM GRAUITY (EX RS.3.5 LAC)
how we calculate the tds on salary.
what is the difference between vat return and return for remittance on value added tax.
what is works contract tax? if a contractor made a bill as repairs to machinary 00000000/- service tax 12.36% on 40% on basic value Vat 5% on 60% of the basic value of the bill amount how can i deduct works contract tax? please suggest me?
i had received an arrear 0f Rs.700000/- lacs for the period 1.1.2007 to 31.3.2010 and Rs.78000 for the period 1.4.2010 to 31.7.10 during aug'2010. my normal salary for 2010-11 is 400000/-. on what amount will my rent free house perquisite be calculated? i have also claimed rebate u/s 89 by distributing my arrear salary in previous years.
How can a taxpayer get a refund for an overpayment of taxes?
Can u provided all the dues date and depositing date which are used in general manner or Income tax..
can penalty be imposed under sec 96 of vat act west bengalfor goods destroyed or damaged
Is there any change in the section 80E for the financial year 2009-10
What are the types of provident funds?
How to calculate entry tax on kraft papers format in excel under Assam Entry tax rules?
accounting taxation
IF WE ARE WORKING IN PHARMA COMPANY & I SEND THE MEDICINE SAMPLE TO THE SALSMAN IN VARIOUS PLASE OF INDIA THAT TIME MADE INVOICE OR ANY OTHER CHALLN OR RECIEPT WHAT AS PER LAW ANY TAX APPLIED IN THE INVOICE & WHICH FORM WILL BE REQUIRED HOW TO GET IT, PLEASE GIVE ME DETAIL ALL INFORMATION WITH EXAMPLE & WHAT ENTEY OF THIS TRANSATION IN BOOKS OF ACCOUNT
