Tds on sale of goods
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 February 2012
some one please answer,
we have sold the goods (cloth bags) to a traveler Co. they have deduct the 2%TDS to total bill.
kindly answer it it right. if yes under which secton of IT act.
we have sold the goods (cloth bags) to a traveler Co. they have deduct the 2%TDS to total bill.
kindly answer it it right. if yes under which secton of IT act.
24 February 2012
Transaction as mentioned by you does not attract TDS. It is a sale transaction and do not attract TDS deduction. Therefore TDS should not have been deducted from payment made to you.
24 February 2012
TDS is required to be deducted when its a contract and as per 194C the material shall be provided by the purchaser.. if not it is a sale.. please relate the fact to your query and decide accordingly.. should it be pure sale.. no TDS..
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