Please Help: TDS ON Book printng
Posted Date : 07-Apr-2014 , 12:35:54 pm | Posted By AJIT GOKHALE
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 ?
Category : Accounts | Answers : 0 | Comments : 2 | Hits : 300
Answers
Comments
Adil Malik
07-Apr-2014 , 01:06:21 pmTDS is applicable u/s 194C @ 2% and to be deducted on payment or credit whichever is earlier.
SARTHAK JAIN
07-Apr-2014 , 11:55:15 pmYes, 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.