Tds u/s 194c

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NEHACHANANA (Querist)
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07 December 2012 If a company asked for 3 quotations for purchase of 100 laptops & it purchases 100 laptops from one out of them , then whether it is a contract & tds u/s 194c is deductible??

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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07 December 2012 It is NOT a contract. It is PURCHASE of equipment. Accordingly TDS is NOT applicable.

If the company enters into an AMC contract, then TDS will be applicable on the AMC charges.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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07 December 2012 It is a contract for sale meaning thereby the said transaction is purely a purchase and sale transaction on which TDS provisions doesn't apply.

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