Tds on purchase of petrol
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 January 2012
Dear sir,
we purchased petrol and diesel every month approximately 1,50,000/- up to date we paid 12,00,000 . but we don't have contract from vendor. but my internal auditors objected they said immediately cut tds but vendor objected. auditors said this is reached 10 lakhs payment so vendor comes under tds.
which point is correct
i think this is not come under tds becasue it is not in contract. please clarify.
thanking you
b.nagendra vara prasad
we purchased petrol and diesel every month approximately 1,50,000/- up to date we paid 12,00,000 . but we don't have contract from vendor. but my internal auditors objected they said immediately cut tds but vendor objected. auditors said this is reached 10 lakhs payment so vendor comes under tds.
which point is correct
i think this is not come under tds becasue it is not in contract. please clarify.
thanking you
b.nagendra vara prasad
09 January 2012
No dear...
You are not supposed to deduct TDS on the purchase of diesel and petrol...
You just ask for the section under which your auditors insist for the same...
You are not supposed to deduct TDS on the purchase of diesel and petrol...
You just ask for the section under which your auditors insist for the same...
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Should I include march foreign salary received in April in my income for FY 2023-24?
- Tax on capital gains revoked us 54f
- Inventory of finished goods
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- Sale of property furniture sale
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Applicability of Ind As to associate of associate
- Refund of AY 22-23
- Disallowance of Section 43B(h) to sez units
- Confusion around Form 26QB fields
- Last year input claim shown in gstr9
- GST Registration Cancellation books of accounts asked by officer
- TDS Deduction Online Learing Platform
- Point (III) 9 of GSTR-9C
- As per our records, find the below outstanding demand(s)* and interest payable u/s 220(2):
- Regarding transaction th. credit card
- HSN Details in IFF/GSTR-1 & in GSTR 9
- MIS MATCH OF INVOICE NUMBER
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
