Tds

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

16 September 2010 is tds is applicable on purchases.limit crossed is Rs 40000,tds will apply on the after knowing that it is contract or even if it is not a contract it will aply

CMA. Subhash Kumar Jha

CMA. Subhash Kumar Jha (Expert)
Follow

16 September 2010 For simple purchase of articles, whether directly or within a contract, will not attract TDS.

VINOD ARORA

VINOD ARORA (Expert)
Follow

16 September 2010 Purchases purely involving materials and VAT/ED are not subject to TDS in general. However if the same are part of a work contract, then TDS applicability is there subject to few exceptions as per S> 194C.

Upgrade to CAclubindia Pro. Subscribe Now!