TDS applicable

This query is : Resolved

Naveen Singh Deopa (Querist)
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27 March 2011 Please explain that which payments(other than trading payments) comes under categoery of TDS. whether that amount debited to P&L, I&E or Balance sheet.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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27 March 2011 The query is not quite clear. Please see article from below link and see if it helps.

https://www.caclubindia.com/articles/all-you-want-to-know-about-tds-7882.asp

Naveen Singh Deopa

Naveen Singh Deopa (Querist)
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28 March 2011 Thank's sir, that link was very use full.
My query is that (1) if we had made a contract with "ABC Co" to suply us some goods which is fixed assets for us and they supplied us that of Rs 5 lac and 50 thousand as services charges for installation of that goods. In that case what will be TDS situation.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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28 March 2011 TDS to be deducted on Rs 50000/- u/s 194C.

Rate:
Individual/HUF 1%
Others 2%
No PAN 20%.

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