Tax liability on machinery purcashe from other state
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 October 2013
Hello Sir/Madam,
We are purchasing a machinery (Asset) from other state for business purpose (for making machine oil). please clear following points.
1. TDS should be deduct or not.
2. as per audit point of view, what procedure/precaution we should follow.
We are purchasing a machinery (Asset) from other state for business purpose (for making machine oil). please clear following points.
1. TDS should be deduct or not.
2. as per audit point of view, what procedure/precaution we should follow.
29 October 2013
TDS is not required for purchase of machinery. You may avail cenvat credit 50% in current year and the balance in further years.
for service charges on instalation TDS is applicable only if it crosses the limit.
for service charges on instalation TDS is applicable only if it crosses the limit.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on Deemed Capital Gain
- Exiting partner in partnership firm in gst portal
- Type of Capital Gain
- ASMT-10 received from A O
- Gst on travel by air for business purposes
- Taxability of credit in canara bank ET & T section (NRO)
- Applicability of Books of Account for Commission Income (Sections 194D & 194H)
- ITR-3 File/Error Found
- Banking Related Issue
- IT returns for fresh job holders
- CASH GIFT FROM BLOOD RELATIVE
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
- Rent claimed on building given on permissive possession basis
- TDS on property - Form 141 query
- Seeking Advice: High Tax Shortfall on Job Switch + Let-Out House Property Loss in FY 2025-26
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
