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+--- Thread: WHT on services and supplies (/thread-wht-on-services-and-supplies)
WHT on services and supplies - Smahnz - 10-02-2010
whether it is necessary for every company to deduct withholding tax on supplies and services? what is rate for both?
- nomanejaz2009 - 10-02-2010
ya it is necessary, rate are same, supplies 3.5% if exceeds 25000 per year, service is 6% on 10,0000
- Smahnz - 10-02-2010
so that means i m going to outsource the development of my website...so i must deduct 3.5% on the final payment? can you please guide me journal entry treatment in books of a/c
- Anfal Shabbir - 10-02-2010
if u r 100 % exporter then u r exempt from withholding tax u/s 153
Anfal
- Smahnz - 10-02-2010
no nature of our firm is advertising/web-delopment & PR....what will be position in this case?
- Information Consultant - 10-04-2010
ur company fall under the defination of withhloding agent so u must deduct tax on ur payments.
Web development per ap 6 % tax deduct karain gay .
entry
Web development expense debit
Incometax payable credit
Bank credit