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TDS u/s 194C

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(Querist)
02 July 2008 Is deduction of TDS required for Transportation Charges paid for purchase of machinery, since the same is capitalised? If no TDS is recovered, then what is the treatment u/s 40(a)(ia)?
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CA. Gurdeep Singh Chawla

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CA. Gurdeep Singh Chawla (Expert)
02 July 2008 TDS is required
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PRASHANT SHENOY U

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PRASHANT SHENOY U (Querist)
03 July 2008 If TDS is required for Transportation Charges paid on purchase of new machinery, what is the consequence if no TDS is recovered? Pls. note that the amount is not an expenditure but is capitalised. How is the amount disallowed?
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CA Anand Sarda

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CA Anand Sarda (Expert)
04 July 2008 Though the amount is not an expenditure, it will added to ur taxable profits.
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