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tds deductee

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Querist : Anonymous

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Querist : Anonymous (Querist)
06 May 2010 hii all of you.. i have a query about tds.

i m working as asst acctnt in construction & designing firm. we deuduct tds on our sub-contatcors credit or payment under 194-c. why our accountant doesn't deduct tds on pymnt or credit of our material supplier as they are also creditors?
solve my problem..
thanks
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Shyam Lal Naik

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Shyam Lal Naik (Expert)
06 May 2010 194C is attracted on contracts for carrying out any work. This is not applicable to Sale/Purchase transaction. Your accountant is correct in not deduction tds from suppliers.
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Querist : Anonymous

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Querist : Anonymous (Querist)
06 May 2010 thnks for reply...
but why tds provision not attracted sale/purchase transaction
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G.Ramesh

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G.Ramesh (Expert)
06 May 2010 Because on Sale and Purchases Sales Tax / Vat will be paid...tds will not attract
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