Tds on printing material
This query is : Resolved
29 April 2020
Respected sir
we are in business of promoting goods and services of others by providing discount coupons .
we have purchased broucher, visiting card , templates , advertisement material with our logo , leaflet etc .for advertisement then whether tds will be applicable on that transaction ?
we have also purchased printed star flex and star backlit material from party whether tds on contract will be applicable in both above situation ?
please reply
we are in business of promoting goods and services of others by providing discount coupons .
we have purchased broucher, visiting card , templates , advertisement material with our logo , leaflet etc .for advertisement then whether tds will be applicable on that transaction ?
we have also purchased printed star flex and star backlit material from party whether tds on contract will be applicable in both above situation ?
please reply
29 April 2020
Yes TDS on contract will be applicable on both above. Deduct 2% TDS.
29 April 2020
in above case
we have purchased material and there was no job work .
then why tds applicable ?
according to my understanding , tds become applicable for job work when material are provided by supplier but we have not provided any material .
please explain
we have purchased material and there was no job work .
then why tds applicable ?
according to my understanding , tds become applicable for job work when material are provided by supplier but we have not provided any material .
please explain
29 April 2020
These materials are not purchased off the shelf but made to order with logo so it will fall under contract work.
29 April 2020
RESPECTED SIR
I have refereed one circular in which it was mentioned that no tds will become applicable when we purchase material for advertisement purpose .
i am not remembering that circulars.
please guide for the same
I have refereed one circular in which it was mentioned that no tds will become applicable when we purchase material for advertisement purpose .
i am not remembering that circulars.
please guide for the same
29 April 2020
These materials are not purchased off the shelf but made to order with logo so it will fall under contract work.
where this distinction is made ?
where this distinction is made ?
29 April 2020
These materials are not purchased off the shelf but made to order with logo so it will fall under contract work.
where this distinction is made ?
where this distinction is made ?
29 April 2020
TDS needs to be deducted on the mentioned payments. It has been specifically provided in the Circular 715 dated 08.08.1995. See Q. 15 in the following link: https://law.incometaxindia.gov.in/TaxmannDit/DispCitation/ShowCit.aspx?fn=https://law.incometaxindia.gov.in/directtaxlaws/cbdt/dtccontents/PARA1119.htm
29 April 2020
Tds need to be deducted u/s 194C , customisation amounts to job work, if it exceeds threshold limit tds applicable.
08 May 2020
Yes it will fall under 194C - Contracts.
TDS Rates:
TDS @ 1% for Individuals/HUF &
TDS @ 2% for others.
However, in case the PAN is not furnished, the Deductor would be liable to deduct TDS @ 20% i.e. at the maximum marginal rate.
TDS will be deducted if:
1. Single Invoice exceeds Rs. 30,000/-
2. Yearly aggregate exceeds Rs. 100,000/-
TDS Rates:
TDS @ 1% for Individuals/HUF &
TDS @ 2% for others.
However, in case the PAN is not furnished, the Deductor would be liable to deduct TDS @ 20% i.e. at the maximum marginal rate.
TDS will be deducted if:
1. Single Invoice exceeds Rs. 30,000/-
2. Yearly aggregate exceeds Rs. 100,000/-
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