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If the trust is printing souvenir from a individual and this souvenir are placed in annual function held by trust..whether TDS will be attracted? Amounts exceeds 75000/-
Replies (2)
No, if VAT is charged on the bill.
In the case of DCIT vs. Shalimar Chemical Works Ltd. the Hon’ble Kolkata ITAT held that manufacturing or supplying a product according to the requirement or specification of a customer by using material purchased from a person other than such customer is not included in the definition of the “Work” as described in the Sub-clause (iv) of the Explanation to Section 194C of the Income Tax Act, 1961.
Thank you
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