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Tds on sale of goods

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Querist : Anonymous

Querist : Anonymous (Querist)

24 February 2012 some one please answer,
we have sold the goods (cloth bags) to a traveler Co. they have deduct the 2%TDS to total bill.
kindly answer it it right. if yes under which secton of IT act.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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24 February 2012 Transaction as mentioned by you does not attract TDS. It is a sale transaction and do not attract TDS deduction. Therefore TDS should not have been deducted from payment made to you.

CA. Hari Kishan

CA. Hari Kishan (Expert)
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24 February 2012 TDS is required to be deducted when its a contract and as per 194C the material shall be provided by the purchaser.. if not it is a sale.. please relate the fact to your query and decide accordingly.. should it be pure sale.. no TDS..

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