11 April 2009
If you are purchasing on a contract basis from single person then you have to deduct tds at the rate for contracts - 2% if any of each bill is more than 20000 or cumulative for the year will exceed rs.50000.
11 April 2009
I think this case can be covered in transaction of purchase. Regularity of transaction does not make it a service. If the tankar owner is not charging saperate service charges other then the water cost, then TDS liability should not arise. Views of other experts are required on this issue.
CAclubindia
