TAX should Be deducted on Water Supply Contract ?Why ?

Categories >> Accounting >> Taxation
Suggest New Category

Question Posted / kashyap.50

5 Answers
23900 Views
I also Faced
E-Mail Answers

Answers were Sorted based on User's Feedback

TAX should Be deducted on Water Supply Contract ?Why ?..

Answer / akn ramachandra rao

being it is not purchase and it is contract for suppply of
water, tax should be deducted from the payment of contract
value if exceeds the limit indicated in the law

Is This Answer Correct ?

27 Yes

3 No

TAX should Be deducted on Water Supply Contract ?Why ?..

Answer / roop

Tax should be deducted o supply of water ut TDS shall be
dedcuted if pay to individual 1% in case of other 2%

Is This Answer Correct ?

20 Yes

2 No

TAX should Be deducted on Water Supply Contract ?Why ?..

Answer / ruchi

because this is under contract. rate is 1% & 2%

Is This Answer Correct ?

18 Yes

2 No

TAX should Be deducted on Water Supply Contract ?Why ?..

Answer / k.srini

Though water supply is a utility service. However when the
question araises whether Water is a good or service. It
would qualify as goods and not as service. Therefore the
contract for supply of water will not fall under the ambit
of 194 C.

Is This Answer Correct ?

11 Yes

5 No

TAX should Be deducted on Water Supply Contract ?Why ?..

Answer / prafull kadam

As Ank explained this is a contract and as per the
accounting law we should deduct 10% TDS while paying to
contractor.

Is This Answer Correct ?

4 Yes

31 No

Post New Answer