14 May 2010
I am accountant with an partnership firm who is in the business of Plastic caps and labour. Packing Material is Rs. 53101.50/- which is purchased from a single party. the purchase of packing material is on different dates.
I want to know whether the firm is liable to deduct TDS on that.
14 May 2010
If you have purchased the packing material itself then tds is not applicable. If you have provided the material and they employed labour to get the finished product of packing material then TDS is applicable.
CAclubindia
