Tds
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 September 2010
is tds is applicable on purchases.limit crossed is Rs 40000,tds will apply on the after knowing that it is contract or even if it is not a contract it will aply
16 September 2010
For simple purchase of articles, whether directly or within a contract, will not attract TDS.
VINOD ARORA
(Expert)
16 September 2010
Purchases purely involving materials and VAT/ED are not subject to TDS in general. However if the same are part of a work contract, then TDS applicability is there subject to few exceptions as per S> 194C.
CMA Ramesh Krishnan
(Expert)
22 September 2010
Yes. Pure purchase transaction TDS will not apply
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