24 December 2013
Asset purchase is what in nature is it by way of some service like construction of building. Or is it way of final product which is inclusive of excise, vat as applicable. If it is by way of service then TDS is applicable or else not required.
From your explaination, i understand that if we purchse Assets like computers, furnitures and AC's TDS should not be deducted. If any services recevied like installation AC's or installation of computer software we can deduct TDS. Am i right Mr. Manish??
CAclubindia
