02 July 2012
As such no TDS is deducted on purchase of fixed asset.But if you have contract with vendor and you are paying labour charges for the same then TDS is deducted u/s 194 C on it ,if the limit is exceeded.
03 July 2012
Certainly not.. Generally Labour charges at the time of purchasing the fixed assets form part of fixed assets. It is included in the cost of the Fixed assets and TDS will not be deducte on any of the amount and entire amount is debited to the cost of the fixed assets.
CAclubindia
