TDS UNDER TNVAT - Persons doing works contract and persons making tax deduction should apply for Tax Deduction Identification (TDIN)

PERSONS DOING WORKS CONTRACT AND MAKING

TAX DEDUCTION SHOULD APPLY FOR

TAX DEDUCTION IDENTIFICATION NUMBER (TDIN)

        Under Section 13 of the Tamil Nadu Value Added Tax Act, 2006, i.e. Deduction of tax at source in works contract, every person responsible for paying any sum to any dealer for execution of works contract shall at the time of payment of such sum, deduct an amount calculated at the following rate, namely:--

(i)	Civil Works Contract	Two percent of the total amount payable to such dealer
(ii)	Civil Maintenance Contract	Two per cent of the total amount payable to such deler
(iii)	All other works contracts	Four percent of the total amount payable to such dealers: (From 1.1.2007 to 9.3.2012) Five per cent of the total contract value contracts  of the works executed. (From 10.3.2012 onwards)

Now Section 13-A. Tax Deductor Identification Number (TDIN) has been introduced under the Tamil Nadu Value Added Tax Act, 2006 and hence new TDIN has to be applied in addition to TIN.

Newly introduction Section:

        13-A. Tax Deductor Identification number:-- Any person liable to make deduction of tax under Section 13 shall apply to such authority in such manner as may be prescribed and shall obtain a tax deduction identification number.

        For this purpose new Form YY has been prescribed which is available in ctd.tn.gov.in new portal under Tamil Nadu Value Added Tax Act Forms.

        The Tax Deduction at source adjustment details and Tax due, adjustment made and payable details were to be disclosed in Part E and Part F of Form K Monthly return.

https://ctd.tn.gov.in/documents/10184/10943/217+%28Act+No.13%29/5c4ced0a-6170-4f1e-b1ba-741f5f596885?version=1.1

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