Tds
This query is : Resolved
10 June 2013
can any one guide me about what will comes under contract under TDS provisions?
10 June 2013
Any type of expenditure incurred related to work...like..printing and stationery,office maintenance. Basically you can say indirect expenditures are subject to TDS. But payment made to government department are not liable for tds deduction like...electricity bill payment, telephone Bill payment, payment of any kind of taxes or interest or penalty to government department,bank charges...
10 June 2013
Firstly thanks for replying me,but in this case a transport co purchased chasis and entered in to contract with one who build the lorry and paid to the party contract amount but not deducted tds what will be the consequences?
10 June 2013
In case of transporters tds is not to be deducted if transporter has provided PAN No..
10 June 2013
In my opinion TDS 194 C applicable .i can explain it as below
Section 194C explanation 4
(iv) "work" shall include—
(a)
(b)
(c)
(d)
(e) manufacturing or supplying a product according to the requirement or specification of a customer by using material purchased from such customer,
but does not include manufacturing or supplying a product according to the requirement or specification of a customer by using material purchased from a person, other than such customer.
So contract to build lorry from the stage of chasis would attract TDS under section 194C provided you have supplied the material/goods/spares to construct lorry
Section 194C explanation 4
(iv) "work" shall include—
(a)
(b)
(c)
(d)
(e) manufacturing or supplying a product according to the requirement or specification of a customer by using material purchased from such customer,
but does not include manufacturing or supplying a product according to the requirement or specification of a customer by using material purchased from a person, other than such customer.
So contract to build lorry from the stage of chasis would attract TDS under section 194C provided you have supplied the material/goods/spares to construct lorry
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
- TDS 194-T applicability
- GST ITC REVERSE
- Fixe term employment
- Is any professional CA is here please reply
- Reprocessing of rectification order AY 2025-26
- RCM ISSUE ON RENT AND TRANSPORTATION CHARGES
- Foreign lottery ticket bought online from India: legality, tax and consequences
- TDS on TRUST
- Putting a heading on received mail
- Section 50-fixed asset-->building ceases to exist
- Regarding Applicability of Tax Audit u/s 44AB
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
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
