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TAX TO BE DEDUCTED AT SOURCE OR NOT??

This query is : Resolved 
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(Querist)
30 September 2010 Hello friends,

plz. clarify whether TDS is applicable in the following case.

1.) for purchase of Fixed assets

2.) advance payment for pur of Fixed asset

3.) bill received from contractor which include goods & services, Tds to be deducted on full bill amt or only on service charges??

4.) advance to conractor in 3.)


wainting for your reply.
thanks in advance

MY id abhipcc@rediffmail.com
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CA Shailesh Kumar Bhagat

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CA Shailesh Kumar Bhagat (Expert)
30 September 2010 TDS will not be applicable in case Sr. No. 1 & 2. However TDS is applicable u/s 194C for sl. No. 3 & 4.

Tax under sl. no. 3 will be deducted on whole amount , if it is a composite contract, and service and assets is not divisable.

However, in case of foreign contractor all of above will be different.
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