Tds on purchase of medicines
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
19 October 2015
Dear Sir,
We are Hospital and we purchase medicines from local market as well as from some nearby big stores on monthly basis. We pay them on monthly basis. Our monthly purchase of medical consumables is more than 1 lakh per month. Should we deduct TDS ? if Yes then under which Section or purchases are not eligible for TDS. Please clarify. Thanks in advance.
We are Hospital and we purchase medicines from local market as well as from some nearby big stores on monthly basis. We pay them on monthly basis. Our monthly purchase of medical consumables is more than 1 lakh per month. Should we deduct TDS ? if Yes then under which Section or purchases are not eligible for TDS. Please clarify. Thanks in advance.
CA AnKiT BoHrA (AB)
(Expert)
19 October 2015
You need not to deduct any tds... TDS not applicable on purchase
19 October 2015
Rightly pointed out Purchase of Medicine does not come within purview of TDS.
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