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Tds on contracts

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Querist : Anonymous

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Querist : Anonymous (Querist)
02 February 2013 Dear Members
I gave the contract to construct/Ready transformer. I did not supply any material to contractor. whether to deduct TDS or not.
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
02 February 2013 If you can say that you have purchased a transformer, no body will ask to deduct TDS.
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If you have entered into a contract with specific requirements and the supplier has made his bill- as -"As per your Specification vide Contract No....." then TDS is required to be deducted @ 2% or 1% depending upon the status of the supplier.
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