Tds section 194c (under income tax act)
This query is : Resolved
18 April 2014
suppose we are purchase goods from X party and also purchase that goods bought out parts from other supplier i am assemble that products and again sale to X Party
now X party can deduct the TDS under Section 194C from my bill amount
it is any notification and rule
how it is possible ?
now X party can deduct the TDS under Section 194C from my bill amount
it is any notification and rule
how it is possible ?
CA Jitender Sharma
(Expert)
18 April 2014
THE X PARTY CONSIDER YOU AS CONTRACTOR .
U/S 194C , there is implied contract between you and Mr X , as you are doing some job work nature of work.
hence TDS provision attracts in your case.
U/S 194C , there is implied contract between you and Mr X , as you are doing some job work nature of work.
hence TDS provision attracts in your case.
Message likes :
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18 April 2014
i am purchase goods from X party with Excise & Vat i am assemble that goods(i.e. welding) from other bought out parts and sale to X party with vat & Excise
when we assemble that goods as per X party requirement & specification
when we assemble that goods as per X party requirement & specification
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