RAJIW KUMAR SINHA (Chartered Accountant) (109 Points)
19 January 2010Whether T.D.S.deducted or not U/S 195 on payment to forign supplier for imports of raw material and other capital goods through L/c or oterwise. If yes , Is the tax dedutible on whole of the sum paid to foreign supplier whether such sum is income or not?
CA.Tarun Maheshwari
(CA, DISA)
(7150 Points)
Replied 19 January 2010
TDS is always deductible only on services. No TDS is deducted on purchase sale transactions, whether its domestic or international.
sivaram
(Asst Mgr-Taxation)
(6918 Points)
Replied 19 January 2010
| Originally posted by : CA.Tarun Maheshwari | ||
 |
TDS is always deductible only on services. No TDS is deducted on purchase sale transactions, whether its domestic or international. |  |
Agreed with the learned member
Atul Kumar
(working employee)
(153 Points)
Replied 19 January 2010
abslutely right...... the simple cocept of TDS , TDS livied on service. not on purchase of any material from what every plance (domestic & international)
Naveen Kumar
(CA, GDPA, )
(58 Points)
Replied 20 January 2010
I ve following doubts regarding TDS deduction.
T. Abhinand Reddy
(Articled Assistant)
(21 Points)
Replied 07 April 2011
1. No, TDS once short-deducted attracts interest @ 12%
2. Whenever, surcharge and cess are required to be applied, the same shall have to be deducted. Non-deduction of surcharge and cess on TDS would amount to short deduction and hence attracts interest @ 12%.
3. Any expense is admissible if TDS if deducted and remitted before filing of return.
manish garg
(Article)
(31 Points)
Replied 02 August 2011
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Why TDS is not being deducted on sale - purchase transactions
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