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vat

ankit (article) (32 Points)

03 May 2010

if vat has been imposed on the bill , still can we deduct TDS on that bill?

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4 Replies

vikash rathi (Chartered Accountant) (787 Points)
Replied 03 May 2010

it depend on bill...but generally if vat is levied..then tds is not deducted...as in case of vat ...it is not a contact..it would be a sale...so no need of tds

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vikash rathi (Chartered Accountant) (787 Points)
Replied 03 May 2010

other replies are welcome....

PANKAJ SHARMA (ACCOUNTS MANAGER) (79 Points)
Replied 04 May 2010

In my opinion, if VAT is imposed, it means sale of goods and in case of sale of goods TDS cannot be levied under any section of the Income Tax Act.

But a Valid discussion to clear the general confusion.

Correct me if I am wrong, in any case

Ak... (.) (19 Points)
Replied 05 May 2010

In the normal trading activity...TDS would not required to be dedcuted in the bill BUT in Works Contacts Sale TDS is required to be dedcuted in the bill.