eligibility of tds added to cost of assets
This query is : Resolved
20 August 2010
My question is that at the time of capitalisation of assets like building, then tds is deducted at the time of labour payment.Will Such TDS amount form part of assets(building)?
20 August 2010
In any case, the gross amount (labour etc) will be included in the value of building.
TDS is merely a deduction made by you on behalf of the contractor so it does not have any impact on the value of building.
TDS is merely a deduction made by you on behalf of the contractor so it does not have any impact on the value of building.
20 August 2010
Yes TDS to be deducted on the labour part. TDS is recovered from labour payments and is not an expense. SO it will not form part of cost of asset.
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