I Am Chandrabalan - Docx Download

I am working in construction co., I have some confussion in bill payment. We are advance paid Rs.2500000/- to contractor in without TDS deduction. This advance amount we will be deduct 10% in advance amount in every bill payment. And we will be deduct 5% of bill value of retention amount. After the bill value we are paid two part. Now I am getting the contractor bill value Rs.4000000/-. How to I calculate its Service Tax, TDS amount. I am calculate this bill here, plz tell me is it correct or not. Otherwise tell me how to calculate this bill amount.

Bill Value Rs.4000000

Add:Service Tax 4.95% Rs. 198000

Gross Bill Value Rs. 4198000

Less: Adv value 10% Rs. 250000

Bal. Bill Value Rs. 3948000

Less: TDS 2% in Gross bill value Rs. 83960

Bal. Bills Payable Rs. 3864040

Less: 5% Retention in Bal bills Payable Rs. 193202

Net Bills payable Amount Rs.3670838.

Then we will be paid two part amount in bill amount(i.e 1670838 + 2000000). When we are paying this amount, can I deduct any TDS amount?.So plz kindly clarify me about the bill matter, how to calculate and pay the amount.
10th January 2013 From India, Coimbatore

Dear Chandrabalan, I think it would be better if you put these figures in tabular form, for example in Excel. Then, it will help us to make any amendments and post it.
10th January 2013 From United Kingdom

Good morning, Thank you for your reply, Now i herewith attached the detail decument for your kind reference. M.CHANDRABALAN
11th January 2013 From India, Coimbatore

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construction co doubt.docx (11.5 KB, 258 views)