I am George Moses from Mumbai I am asking the how to
clculate the TDS on Labour ? Sub LAbour.
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Answer Posted / motilal
labour is contractual job for tds . for calculating you
calculate TDS 2% of amount paid + 2% of deducted amount of
tds for cess + 1% of deducted amount of tds for edu. cess
i.e 2.06% of whole amount for deduction.
And for sub labour :-
calculate TDS 1% of amount paid + 2% of deducted amount of
tds for cess + 1% of deducted amount of tds for edu. cess
i.e 1.03% of whole amount for deduction.
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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.
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