TDS on cold storage

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Querist : Anonymous

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Querist : Anonymous (Querist)
11 February 2011 Hi,
Our party uses the cold stores of storing fruits, for that we make them payment after deducting TDS @2% because we conclude that we are using their plant & machinery.so tell me weather our assumption right or wrong.could be deduct TDS @10%?

11 February 2011 TDS @ 1%/2% u/s 194C is applicable. It is clarified by the department through CIRCULAR NO. 1/2008, DATED 10-1-2008. No need to deduct TDS @ 10%.

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Querist : Anonymous

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Querist : Anonymous (Querist)
11 February 2011 Thank you Mr.Manikandan.


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