TaxTMI 
TaxTMI 
TaxTMI 
TDS on Work Contract
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....DS on Work Contract<br> Query (Issue) Started By: - sunil kumar valipireddy kondannagari Dated:- 8-2-2012 Last Reply Date:- 10-2-2012 Income Tax<br>Got 2 Replies<br>Income Tax<br>Hi All, We have assi....
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....gned a work contract to the main contractor who will take care about compleation of the turnkey project. The total project cost bifurcated as "material & labour" and "co-ordination fee". In this scena....
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....rio, what is the cost on which TDS 2% is to be deducted, is it on "material & labour" or only on "labour". Aslo what would be the cost on which WCT is to be deducted by us. Thank You Reply By PRASAN....
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....TA KHATAI: The Reply: WCT TDS as applicable in the project state to be deducted from the total sales price , i.e.invoice value including material,labour,co-ordination fee etc,. Yours being a turnkey....
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.... lumsum indivisible contract,WCT shall be applicable on the gross total project value. Incase the whole contract would have been awarded as a split contract , i.e.separate contract for supply,labour ....
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....and co-ordination,WCT would not have been attracted , thus no WCT TDS. Hope,I have adequately clarified , may revert for any further clf. Prasanta Khatai, 9818830315 Reply By sunil kumar valipired....
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....dy kondannagari: The Reply: Thanks for your clarification on WCTDS. But also wanted TDS as per Income Tax Act. We are deducting TDS @ 10% on Co-Ordination Fee. But my doubt is whether 2% TDS to be....
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.... deducted on Labout as well Material or only labour ?<br> Discussion Forum - Knowledge Sharing ....