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Applicability of tds

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Querist : Anonymous

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Querist : Anonymous (Querist)
15 September 2014 Goods purchased from foreign countries under DTAA will attract tds provisions or not when payment is made for purchase of those goods??
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
15 September 2014 TDS not attracted on purchase of goods.
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Querist : Anonymous

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Querist : Anonymous (Querist)
16 September 2014 Sir thanks for responding. now i had another doubt what if we purchase capital goods from foreign trader,Tds is attracted or not?/if attracted at what rate
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
16 September 2014 As stated above, TDS not attracted on Puchase of goods be it capital or revenue.
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
16 September 2014 whether capital or otherwise no tds is applicable in case of purchase.
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Querist : Anonymous

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Querist : Anonymous (Querist)
16 September 2014 but as per sec 195 of income tax act we need to deduct tds for any payments made to a person,not being a company,or to any foreign company
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
16 September 2014 yes but sec 195 does not cover transaction involving puchase and sale of goods
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