Tds on payment of interest on purchases
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 June 2014
TDS need to deduct OR Not for Payment of Rs. 1,77,000 as Interest on Credit Purchases by A HUF Proprietorship Firm?
Supplier says, since it is Proprietorship Firm, there is no need to deduct TDS. But I doubt, Supplier want to take advantage of Ignorance of Buyer.
Will Buyer comes under fault if he does not deduct TDS and deposit to Department in such case?
Supplier says, since it is Proprietorship Firm, there is no need to deduct TDS. But I doubt, Supplier want to take advantage of Ignorance of Buyer.
Will Buyer comes under fault if he does not deduct TDS and deposit to Department in such case?
14 June 2014
Section 194A is not applicable to the referred interest payment.
Citation :- ITO vs. Parag Mahasukhlal Shah (2011) 46 SOT 302.
Citation :- ITO vs. Parag Mahasukhlal Shah (2011) 46 SOT 302.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Opting our of sec 44AD
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- SALE OF MOTOR CAR BY REGISTERED INDIVIDUAL
- Transporter Declaration form
- LC charges in relation to Asset purchased should be Capitalised ?
- Multiple trade mark
- Regarding appeal to GSTAT
- Copyright software
- Regarding TDS Applicability For Director Remuneration
- Value of property in capital gain
- Taxation on Swing Trading Income (No Other Income)
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
