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Tds on payment to supplier of building material

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(Querist)
29 June 2015 Whether TDS would be deducted U/S 194C if payment is made for purchase of building material worth Rs. 40000? Will it be considered as a contract?
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
30 June 2015 No. Contract for Supply of Material not covered u/s 194C. TDS not required to be deducted.
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Ankit

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Ankit (Querist)
30 June 2015 Thanks for the response.
But sir can you please tell the reason for the same.
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
30 June 2015 Simply TDS provision is not attracted on purchase transactions.
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Ankit

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Ankit (Querist)
30 June 2015 Ok
Thanks Sir for the response.

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