Tds query
Praveen Kumar Agarwal (Accountant) (180 Points)
15 September 2012Praveen Kumar Agarwal (Accountant) (180 Points)
15 September 2012
Giridhar S Karandikar
(Team Lead)
(7548 Points)
Replied 15 September 2012
If there is a contract then TDS needs to be done @ 1% u/s 194C. However if the income of the individual is below the taxble limit then he shud submit a declaration & then in that case TDS need not be made.
Praveen Kumar Agarwal
(Accountant)
(180 Points)
Replied 15 September 2012
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 16 September 2012
if the term "purchase of goods( food items)/ under direct expenses" is confirmed with the accounting method applied by institute, then NO TDS, but i doubt about the same, as they will book the same under indirect expenses, and would get liable for TDS.
Praveen Kumar Agarwal
(Accountant)
(180 Points)
Replied 16 September 2012
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