Please Help: TDS ON Book printng
Posted Date : 07-Apr-2014 , 12:35:54 pm | Posted By: AJIT GOKHALE
Category :
Accounts | Answers :
0|
Comments :
2| Hits: 377
|
|
If we are providing Printing paper to Offset Printer & Printer Submit Tax Invoice with Charging 5% Vat . Can we deduct 2% TDS on Bill Booking & Deduct 2% WHILE MAKING PAYMENT TO OFFSET PRINTER ? |
 |
|
|
|
| Comments |
| Posted By : SARTHAK JAIN |
07-Apr-2014, 11:55:15 |
| Yes, I agree with Adil. Such payment will be covered u/s 194C. TDS will be 1% or 2%, depending upon the status of payee. Further, TDS will be only on 5% markup charged by printing agency if the value of material i.e. paper is shown separately in invoice. Otherwise TDS will be on gross amount charged. |
| |
| Posted By : Adil Malik |
07-Apr-2014, 01:06:21 |
| TDS is applicable u/s 194C @ 2% and to be deducted on payment or credit whichever is earlier. |
| |
|
|
|
|
|
