Tds liability on purchase of goods from foreign supplier
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 February 2016
WE HAVE TO IMPORT GOODS ie MACHINERY SPARES FROM FOREIGN SUPPLIER WHO IS HAVING A SUBSIDIARY COMPANY IN INDIA.
HOWEVER, THERE IS NO INVOLVEMENT OF THE SAID SUBSIDIARY COMPANY OR THEY ARE PROVIDING ANY SERVICES SUCH AS INSTALLATION ETC.
IT WILL BE A A PURE PURCHASE TRANSACTION.
MY QUERY IS :- WHETHER TDS IS APPLICABLE TO SUCH TRANSACTION ?
IF YES, WETHER ON WHOLE TRANSACTION AMOUNT?
HOWEVER, THERE IS NO INVOLVEMENT OF THE SAID SUBSIDIARY COMPANY OR THEY ARE PROVIDING ANY SERVICES SUCH AS INSTALLATION ETC.
IT WILL BE A A PURE PURCHASE TRANSACTION.
MY QUERY IS :- WHETHER TDS IS APPLICABLE TO SUCH TRANSACTION ?
IF YES, WETHER ON WHOLE TRANSACTION AMOUNT?
10 February 2016
No,For purchase of Machinery spares tds will not applicable.
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