Tds- 194 c

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

02 January 2013 Dear sir,
one of my client having printing press, he is printing calenders and diaries and make sale to various clients such as schools, agents, banks etc.
while receiving payment from bank they people are deducting tax under 194C if it exceeds rs. 30000/- . as such there is no contractual agreement between bank and my client how can they deduct tax? as such its purely sale transaction .

Guest

Guest (Expert)

02 January 2013 Contract does not necessary mean that an express contract shall be there. In this case once the order is received by the press it is an implied contract. In this case the clients will finalise the details and quality and quantity and the order shall be placed accordingly. In such terms the press is bound to sell the said stock to the one client from whom the order is received. Hence it will be termed as contract.

Message likes : 1 times

Querist : Anonymous

Querist : Anonymous (Querist)

02 January 2013 Thank you Ketan Kumar.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

CA K GIRIDHAR

shubham agrawal

T E SOUNDARARAJAN

Krishnan V

Sivanath VV

Subscribe Now

Tds- 194 c

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Accountant

GST CONSULTANCY

Manager- Finance and Compliance

Senior Executive

CA Final

GST CONSULTANT