TDS

TDS 453 views 1 replies

The Chartered Accountant

125 Points Joined March 2007

Will tds be deductible on the amortiztion expenses ?

To explain further, Party X has amortized the moulds which is given by his client ( Say Party Y )

The ownership of the moulds is with Y and X pays receives for using the Moulds .

so considering the above situation will Tds applicable for the above transaction ??

Please clarify

Replies (1)

aurangzaib khan

financial consultant

95 Points Joined August 2009

I think your question is about rent of machinery, If client Y has given a mould (machinery) to party x, then client y would have received consideration ie rent. Therefore TDS should not deduct on amortisation of expenses but TDS should be deducted on Rent.