Tds

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

06 September 2012 If I want to pay Rs.60,000 to one party against two bills,one for purchase of material Rs.27000 and one for services provided to us agaist contract.Then whether TDS will be applicable on 60,000?

CA AYUSH AGRAWAL

CA AYUSH AGRAWAL (Expert)
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06 September 2012 Since Bill raised Separately, Only TDS Need to Deduct on 33000 Only.u/s 194C

Since On Purchase No TDS is Applicable.

Pankaj Gupta

Pankaj Gupta (Expert)
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06 September 2012 * Against the purchases worth Rs. 27000, you are not required to deduct TDS.(purchases are not covered under the chapter of TDS).
* Against the remaining amount of Rs. 33000, you are required to deduct TDS u/s 194C. (Because such amount exceeds Rs. 30000 in a single payment.)

NOTE-Transactions with the same party do not effect the above calculations.

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