Tds section 194c (under income tax act)

This query is : Resolved

Ganesh (Querist)
Follow

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 ?

CA Jitender Sharma

CA Jitender Sharma (Expert)
Follow

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.

Message likes : 1 times

Ganesh

Ganesh (Querist)
Follow

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

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok