Queries regarding TDS

772 views
User Avatar

Accountant
46 Points Posted on 08 January 2020
Respected All Members,

Kindly help regarding Tds deduction queries as per below details :-

We purchased Electric Transformer from Transformer Manufacturer supplier so my question is can we Deduct TDS against supplier Invoice. If answer yes so why deduct Tds..??
If answer No so why not deduct Tds..??


Thanks.
0 Reply Share Follow
On 08 January 2020 at 20:48 Report
Replies (4)
Quick Summary
This discussion clarifies whether TDS (Tax Deducted at Source) needs to be deducted when purchasing an electric transformer from a manufacturer. Generally, TDS is not applicable on the purchase of machinery like a transformer, as it's considered an asset. However, TDS might be applicable under Section 194C if separate charges are paid for labour, installation, or maintenance related to the transformer.

User Avatar

Tax return preparer
462 Points Posted on 08 January 2020

Value of invoice?

Is it a only invoice in the FY ?

Paying to Individual or other ?

1 Reply
On 08 January 2020 at 21:11
User Avatar

Accountant
46 Points Posted on 08 January 2020
Value More then 1 lac.
Fy.19-20
Pvt. Ltd.
Reply
On 08 January 2020 at 21:14
User Avatar

Chartered Accountant
172 Points Posted on 09 January 2020

Since it is purchase of a Machinery there is no TDS in my view. There may be TDS depending on amount on labour charges paid for erection or installation of machinery

1 Reply
On 09 January 2020 at 13:46
User Avatar

Partner
6665 Points Posted on 13 January 2020

 TDS on Electric Transformer is fall in Plant & Machinery . So it is Asset then TDS is not required to be deducted .BUT if maintenance or Installation or labour charges are made on this Electric Transformer then TDS under section 194C may be come into the Picture

1 Reply
On 13 January 2020 at 10:49

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. PCIT-1 Thane Email address
  2. CA Fees deduction for non audit case allowed?
  3. 5th Letter PAN Mismatch with Surname issues still
  4. Criteria to hire an article
  5. Guidence requested for a Finance Professional with
  6. Expert Opinion Required – Form 140 Gross Amo
  7. WRONG TAX DEMAND - formal responses , rectificatio
  8. Foreign remittance
  9. Affordable Residential Flats in Gurgaon
  10. Manufacturing

More recent discussions | Post

Related Topics :

Loading