TDS
This query is : Resolved
27 July 2010
Dear Sir,
I had a doubt whether TDS is applicable, if a company which regularly requires petrol & oil (which are used both in vehicles and also as a raw material in their products), if it has few selected agencies through which it purchases the petrol.
The payment to this agencies is made on monthly basis. will TDS be applicable on such payments.
Regards,
Hardik.
I had a doubt whether TDS is applicable, if a company which regularly requires petrol & oil (which are used both in vehicles and also as a raw material in their products), if it has few selected agencies through which it purchases the petrol.
The payment to this agencies is made on monthly basis. will TDS be applicable on such payments.
Regards,
Hardik.
CA. Pradeep Nayak
(Expert)
27 July 2010
It is a contract for purchase. Hence TDS is not applicable.
27 July 2010
No. as its a contract for sale / purchase not for service. So TDS will not be applicable. Section 194 of IT is very clear about this.
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