194c

Jagjeet Singh (ca-final) (174 Points)

28 January 2011

X Ltd. Mfg. Fabric From Yarn Purchased From Y Ltd. & Along With Yarn Purchased From Other Party.

X Ltd. Sale Fabric TO Y Ltd.

Whether Y Ltd. Is Liable TO Deduct TDS

Please Give Answer After Reading Amenment Which Substitute Entire Existing 194c

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2 Replies

Pankaj Arora (Learner) (3134 Points)
Replied 28 January 2011

Tds is not applicable on purchase of goods but yes if there is contract between X and Y than you can deduct tds u/s194C

shashank (CA final student) (259 Points)
Replied 28 January 2011

In the Case of purchases section 194C is not applicable & the other party is not liable to deduct TDS

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