hello,
If newspaper supply at concessional rates to a trust exceeding Rs.20000/-p.m then trust is liable to deduct tax or not?
3 Replies
Ravikumar.G
(Consultant)
(18525 Points)
Replied 28 September 2007
It it is a Purchase TDS will not attract .Otherwise there is no doubt, TDS will attract.
M.Sriram Shenoy
(CA Final)
(814 Points)
Replied 15 February 2008
Tax need not be deducted on this as it is a purchase of goods. Goods bought by you, which are not made as per your specifications and preferences will not attract TDS because, if you dont purchase it, the seller can very well sell it in outside market.
But if you give out your preferences to make use of the product as per your intention then TDS has to be deducted.
O.D.SHARMA
(DGM-F & A)
(1734 Points)
Replied 15 February 2008
No,TDS on paper supply.As this is not a contract and no obligation.
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