Deduction of TDS on contract purchase
This query is : Resolved
Quick Summary
27 February 2024
hello sir,
my query is I am working in a school trust recently my school purchase fixed assets of valuation more than 500000 through tender process. After completion of process the contract is given to the lowest bidder and the assets where purchase. Shall we deduct TDS on payment for the purchase.
my query is I am working in a school trust recently my school purchase fixed assets of valuation more than 500000 through tender process. After completion of process the contract is given to the lowest bidder and the assets where purchase. Shall we deduct TDS on payment for the purchase.
26 May 2024
No, TDS will not be applicable in your case.
09 September 2024
Good Luck.
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