TDS on Spares
This query is : Resolved
08 February 2024
Dear Experts,
1 A company has purchased the vehicle,which has the approx taxable value of Rs 45.00 laks.and the company pays the TCS @ %
2 After the some period, the same vehicle has undergone for the periodical maintenance service to the same dealer.
3 Now the query is
4 Whether the company has the obligation to deduct the TDS u/s 194Q towards the spare parts, which are to be replaced?
5 Since the vehicle purchased amount to be added to calculate the Rs 50.00 Lakhs threshold limit
1 A company has purchased the vehicle,which has the approx taxable value of Rs 45.00 laks.and the company pays the TCS @ %
2 After the some period, the same vehicle has undergone for the periodical maintenance service to the same dealer.
3 Now the query is
4 Whether the company has the obligation to deduct the TDS u/s 194Q towards the spare parts, which are to be replaced?
5 Since the vehicle purchased amount to be added to calculate the Rs 50.00 Lakhs threshold limit
08 February 2024
TCS already deducted for vehicle purchase so it should not be considered again for 194q.
Message likes :
2 times
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
- CLOSING STOCK QUERY
- DUE DATE FOR ITR FILING
- GST ISD Query on various AMCs
- Gst on travel by air for business purposes
- Loss of interest in PF transfer from EPFO to Trust
- Short Term Gain Reporting ITR
- Query regarding Item 61/62/63 vs Item 64 in ITR-3
- Rent claimed on building given on permissive possession basis
- CASH GIFT FROM BLOOD RELATIVE
- TDS offline utility
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
- CPC and SAC
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
