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tds on newspaper supply

Geetanjali (Practice) (99 Points)

28 September 2007

hello,

If newspaper supply at concessional rates to a trust exceeding Rs.20000/-p.m then trust is liable to deduct tax or not?

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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.