TDS LIABILITY
This query is : Resolved
CA. Ritesh Kashyap
(Querist)
13 March 2010
THERE IS A PARTY XYZ FROM WHOM COMPANY TAKES SERVICES OF PRINTING AND ADVERTISEMENT BOTH.
WHILE AUDITING HOW SHOULD WE CHECK THE TDS LIABILITY
1. ON THE BASIS OF EXPENSES (i.e what is the amount of printing exp. or what is the amount of advertisement) ,OR
2. ON PARTY BASIS (i.e what is the balance of party)
WHILE AUDITING HOW SHOULD WE CHECK THE TDS LIABILITY
1. ON THE BASIS OF EXPENSES (i.e what is the amount of printing exp. or what is the amount of advertisement) ,OR
2. ON PARTY BASIS (i.e what is the balance of party)
M Prabhakar Menon
(Expert)
13 March 2010
If XYZ can bill u seperately for supplies and for services it is best.There is no TDS on supply. Before applying the law judge the materiality of the transaction how significant is it wrt the client's business.
CA Prashant Gupta
(Expert)
13 March 2010
if party is giving printed stationery then no TDS as this is contract for sale. circular 681 dt 8 Mar 94.
if bill is separate one for supply and other for printing then TDS will be on printing.
if bill is separate one for supply and other for printing then TDS will be on printing.
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