Tds deducted on purchase of goods
This query is : Resolved
04 January 2012
X ltd purchased a carpet from Y for Rs. 30000+VAT. While making payment X ltd deducted TDS on payment to contractor-2%.
Is it correct to Deduct TDS?
Is it correct to Deduct TDS?
04 January 2012
Wrong. TDS provisions are not attracted on such transactions. So he is not correct in deducting the TDS.
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