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Tds

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(Querist)
05 August 2014 My client has a hotel business & he is erecting a new building for the same is the he has installed a life is the TDS deductible under 194C ??
If yes Then If a fixed asset is purchased and the specifications are given by the buyer then is TDS is deductible though the raw material is not supplied.
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CA PRIYUL SHAH

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CA PRIYUL SHAH (Expert)
05 August 2014 Answer to your first question is yes, Your client has to deduct TDS 194C.
TDS is not applicable on pure sale & purchase transaction.
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sneha israni

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sneha israni (Querist)
06 August 2014 but suppose if the asset purchased is dies which is specific in nature...and if the answer to the the first question is yes then lift installation also includes manufacturing which is as per specification of client and on contractual basis then how come we should not deduct TDS other fixed asset
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
06 August 2014 if raw material is not supplied then no tds is deducitble.
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CA PRIYUL SHAH

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CA PRIYUL SHAH (Expert)
06 August 2014 simply If your invoice contain service tax then deduct tds.
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
06 August 2014 as per notification no 1/2014 no tds is applicable on service tax portion.
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