TDS for Purchase of Furniture

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PRIYA (Querist)

29 September 2008 Dear Sir,

I have made a office cabinet through contractor and the value including labour charges amounted to Rs.25000/-. I have debited it to furniture account. Should i deduct tax when i make payment and if i dont will there be any disallowance.

Regards,
Priya

Taxguy

Taxguy (Expert)

29 September 2008 TDS as per 194C is warranted.

Late CA Sampat Jain

Late CA Sampat Jain (Expert)

29 September 2008 It is a capital expenditure not claimed as exp. in profit and loss account.........so no question of disallowance

Ravikumar.G

Ravikumar.G (Expert)

29 September 2008 Amounts paid to a contractor or sub contractor for carrying out any work (including supply of labour for carrying out any work. Your case if it is a single bill TDS will attract.

Ravikumar.G

Ravikumar.G (Expert)

29 September 2008 Failure to deduct the whole or any part of tax at source : Penalty u/s 271C will attract i.e sum equal to the amount of tax which he failed to deduct.

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