Tax deducted at source
This query is : Resolved
26 October 2008
Wheather advance against Supply of goods is liabble for TDS U/s194C.
Ankit Dangayach
(Expert)
26 October 2008
TDS is not deducted on purchase and sale of goods,so no TDS is to be deducted on advance payment of such purchase consideration.However if u makes advance payment to transporter as carriage for supply of goods then TDS is to be deducted from such advance payment U/s 194C.
26 October 2008
Advance payments for supply of goods do not come under the purview of section 194C.
O.D.SHARMA
(Expert)
26 October 2008
Dear,
supply & purchases are not covered in 94C.This contract that have TDS liability.make differences & pay accordingly.
supply & purchases are not covered in 94C.This contract that have TDS liability.make differences & pay accordingly.
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