Tds

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

03 February 2018 sir
i want to know sir
i am manufacturer and purchase raw material from some body then will i able to deduct tds at payment time from him if yes then which section of tds is coverd.

Arpit

Arpit (Expert)

03 February 2018 TDS is not required to be deducted on raw material purchase

Querist : Anonymous

Querist : Anonymous (Querist)

03 February 2018 tell me
is tds applicable on purchase?

Arpit

Arpit (Expert)

03 February 2018 on material purchase tds is not required to be deducted

Querist : Anonymous

Querist : Anonymous (Querist)

03 February 2018 ok
one more things
if i am purchase capital goods then it applicable

Arpit

Arpit (Expert)

03 February 2018 if the contract for purchase of capital goods is not a works contract then no tds is requred to be deducted. If it is a works contract then tds is required to be deducted

Querist : Anonymous

Querist : Anonymous (Querist)

03 February 2018 its means tds not required on purchase and sale of any types of good
it is applicable on only services

Arpit

Arpit (Expert)

03 February 2018 There could be tax deduction on purchases provided purchase relates to goods specified U/Sec. 206C of the Income Tax act. In such cases, tax is collected by seller and its called Tax collected at source (TCS).

SUNIL KUMAR PATTUVAKKARAN

SUNIL KUMAR PATTUVAKKARAN (Expert)

06 February 2018 No TDS on Purchase and sale of goods.

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