hi,
Please someone clarify TDS deduction on unsellable item (purchase), for example we purchase a item include paying VAT that can not be sold to anyone i.e. unsellable. it is comes under tds deduction liability. please clarify it.
Thanks
Sunil Kumar Shrivas (Job) (232 Points)
22 September 2010hi,
Please someone clarify TDS deduction on unsellable item (purchase), for example we purchase a item include paying VAT that can not be sold to anyone i.e. unsellable. it is comes under tds deduction liability. please clarify it.
Thanks
Manoj BG
(Tax Professional and in Service)
(1795 Points)
Replied 22 September 2010
PURCHASE OF ITEMS/GOODS WOULD NOT COME UNDER ANY PROVISIONS OF TDS. THUS, NO TDS APPLICABLE ON THE PURCHASE OF GOODS/ITEMS.
REGARDS,
MANOJ
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