tds on purchases of printing & stationery
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 November 2009
In case a printing company is placed an order for say 45000/- viz. printing of leaflets, broachres, visiting cards for 35000/- and 10000 for stationery items, on credit basis, while making payment should we deduct TDS on 45000/- and at what percentage and for what items. For general offic purchases worth about less than 2500/- are we to deduct TDS, if so, at what rates
10 November 2009
If the purchasing company collects Vat on the buill amount raised by them, it's nature is only a contract of sale and you don't have to deduct tax. Otherwise you should deduct tax.
10 November 2009
on 35,000/- you have deduct TDS u/s 194C @ 2%
10 November 2009
By virtue of explanation (iv) (e) of section 194C, if materials are not supplied to the printing company, TDS provisions does not attract to the said deal.
10 November 2009
Agree with Mr.Deepak & Mr.Warrier, If vat not collected on the bill, then it is contract payment and TDS will be deducted on total amount of Rs.45000/- @ 1% if individual,2% if company...The contract exceeds Rs.20000/- TDS will be deducted, if the cumulative contract bills crossed 50000/- and above also TDS applicable
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