Tds on paymet for purchase of assets

This query is : Resolved

Arul Kumar (Querist)
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22 March 2012 Dear Experts,

M/s X is providing us computer maintenance services for which we pay them after deducting TDS @ 2%. We have now purchased Computer (Asset) from the same party.

My query is whether we should deduct TDS on such payment against purchase of Asset from the same party? The Asset invoice also contains VAT element.

Thanking you,

Regards,

Arul

Querist : Anonymous

Querist : Anonymous (Querist)

22 March 2012 No TDS on purchase / sale of goods..

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)
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22 March 2012 For the purchases and sales TDS would not attract. TDS deductable would be depend on the nature of payment but not link to the pary with more transactions and payments.
OM SAI SRI SAI JAI JAI SAI

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