Tds (urgent)
Querist : Anonymous
i have a very urgent query as per my senior accountant he say, if our contractor provide services so we can deduct tds in his bill amount, but if he sold goods to us so we are not liable to deduct tds u/s 194, can he right?, because our stationer provide stationary so we cant deduct tds, but when printing our visiting card we deduct tds. so pls resolve my query
Refer Sec 194C for more details.
However,there is only one possiblity u/s 194C to deduct TDS even on sale of goods.
194C is applicable to contractors who carry out any work and there is involvement of service and goods both.
So, the Govt by vivisecting the service element involved therein make liable the person to deduct the TDS at lower rate(2%/1%) otherwise it is very high in other cases.
Querist : Anonymous
Warm Thanks
Nitesh Namdev
You do need to ratify the correctness of the answers of the experts if you have a different view/opinion then you are welcome.
Thanks & Reagrds
Amit Kedia
.
The condition has been prescribed as
-The goods part should have been supplied by the said customer to the contractor.
.
Section 194(c)(3), has thus limited application in reference to sub-clause (3) of clause (iv) of the Explanation to Section 194C.
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