16 September 2010
is tds is applicable on purchases.limit crossed is Rs 40000,tds will apply on the after knowing that it is contract or even if it is not a contract it will aply
16 September 2010
Purchases purely involving materials and VAT/ED are not subject to TDS in general. However if the same are part of a work contract, then TDS applicability is there subject to few exceptions as per S> 194C.