whether tds deductible or not ??
This query is : Resolved
06 October 2010
whether tds is deductible or not in the following cases.
1.) purchase of fixed assets rs.500000
2.) advance payment for purchase of fixed assets rs.500000
3.) advance payment for purchase of fixed assets & installation charges which is not known at the time of advance payment.
1.) purchase of fixed assets rs.500000
2.) advance payment for purchase of fixed assets rs.500000
3.) advance payment for purchase of fixed assets & installation charges which is not known at the time of advance payment.
06 October 2010
If TDS deductible normally then only TDS deductible on those payments.
11 October 2010
on the basis of given info,
Tax is not deductible on any.
Tax is not deductible on any.
18 October 2010
Mr.Abhishek , As per given information by your end non of that is liable to deduct tax at source , one thing you should mind that , tax is need to be deducted on the taxable payment made by you not on all payment . if you are purchasing something they are not making direct taxable income so naturally you can not deduct tax at source
18 October 2010
First of all there is no bifurcation given in section 194C i.e. whether TDS should be deducted on expenses in revenue nature or capital nature.
Also if something we are purchasing is a capital goods it could be a revenue item in the hands of the other person. So income is being generated in the hands of the person to whom payment is made.
Hence TDS deductible.
Also if something we are purchasing is a capital goods it could be a revenue item in the hands of the other person. So income is being generated in the hands of the person to whom payment is made.
Hence TDS deductible.
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