tds deductee
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 May 2010
hii all of you.. i have a query about tds.
i m working as asst acctnt in construction & designing firm. we deuduct tds on our sub-contatcors credit or payment under 194-c. why our accountant doesn't deduct tds on pymnt or credit of our material supplier as they are also creditors?
solve my problem..
thanks
i m working as asst acctnt in construction & designing firm. we deuduct tds on our sub-contatcors credit or payment under 194-c. why our accountant doesn't deduct tds on pymnt or credit of our material supplier as they are also creditors?
solve my problem..
thanks
06 May 2010
194C is attracted on contracts for carrying out any work. This is not applicable to Sale/Purchase transaction. Your accountant is correct in not deduction tds from suppliers.
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 May 2010
thnks for reply...
but why tds provision not attracted sale/purchase transaction
but why tds provision not attracted sale/purchase transaction
06 May 2010
Because on Sale and Purchases Sales Tax / Vat will be paid...tds will not attract
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