20 February 2008
Sir, if a company is importing some items on which it has paid security for container in which it has packed its material, when material reached at indian port company has paid epenses to container corporation of india and returned back security money to the company company. now question is what is the nature of expenses is it rent,packing charges or fraight. and if it is rent do the company has to deduct TDS on that payment.
20 February 2008
TDS ON CONTRACTOR SHALL BE LEVIED BUT SINCE THE TRANSACTION WAS UNDERTAKEN BY CONTAINER CORPORATION OF INDIA WHICH IS GOVERNMENT ENTERPRISE THEREFORE NO TDS IS REQUIRED AND THE COMPANY SHOULD COLLECT CETIFICATE FROM CONTAINER CORPORATION FOR NON DEDUCTION OF TAX.
CAclubindia
