shreyans jain (ABC) (192 Points)
07 December 2011Dear All,
A company purchased furnitures amounting rs. 170000/- & incurred labor charges for brining the same to the business location amounting rs 30000/-. They capitalized both the amount.But they deducted the TDS on the labour charges incurred in connection wih the furnture.Is company correct in deducting the TDS u/s 94C.Reply ASAP
Chetan
(Senior Auditor)
(172 Points)
Replied 07 December 2011
yes the treatment is done by company is correct, as labour charges should be capitalised and TDS should also be deducted on labour charges. the treatment is correct.....
CA Devender Chauhan
(Group Financial Accountant)
(1526 Points)
Replied 07 December 2011
| Originally posted by : chetan | ||
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yes the treatment is done by company is correct, as labour charges should be capitalised and TDS should also be deducted on labour charges. the treatment is correct..... |
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ya agree.........
Rohit C. Bankar
(Article Assistant)
(29 Points)
Replied 07 December 2011
pallavi
(ACCOUNTS EXECUTIVE)
(21 Points)
Replied 07 December 2011
SIR,
IAM WORKING AS A SATUTORY EXECUTIVE IN A MANUFACTURING UNIT FROM 2005 ON WARDS,
MY QUALIFICATION IS MCOM AND NOW IAM INTERESTED IN DOING CA .
PLS SUGGEST ME WHERE TO DO, HOW TO DO, WHEN TO DO,AND FINALLY WHAT IS STARTING LEVEL OF CA
PALLAVI
CA. Kunal Lakhotia
(ACA)
(1006 Points)
Replied 07 December 2011
| Originally posted by : sivaram | ||
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correct treatment |
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arun wahi
(c.a.)
(45 Points)
Replied 08 December 2011
| Originally posted by : Shreyans jain | ||
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Deducting ot TDS does not depend on the nature of expenditure i.e. wheather it is capital of revenue . company has correctly deducted tds on labour charges paid for being furniture to its present location. . |
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