Applicablity of tds on import purchase of trading goods
This query is : Resolved
10 August 2011
Sir,
Whether TDS u/s 195 or any other section is attracted for deduction of tax at source for payments made to foreign party on account of purchase of timber for trading in India ?
A.O. has claimed that its a payment to a foreign party, hence section 195 of I.T.Act will be attracted, as this section says for " Other sums ".
Kindly guide me in this regard.
Whether TDS u/s 195 or any other section is attracted for deduction of tax at source for payments made to foreign party on account of purchase of timber for trading in India ?
A.O. has claimed that its a payment to a foreign party, hence section 195 of I.T.Act will be attracted, as this section says for " Other sums ".
Kindly guide me in this regard.
10 August 2011
TDS under sec 195 is not applicable on Purchase of goods
10 August 2011
Can you please give me some more references of non applicability of TDS on import of trading goods. Can some case laws or circular reference can be given in this regard. Please give so.
10 August 2011
since you has to paid custom duty cvd and additional duty on purchase of goods then no need to deduct tds
10 August 2011
Thanks a lot
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