Dear members,
please tell me applicabilty of contractor TDS on following issue:
ABC Ltd purchase raw material and process a semi-finished goods, after that sales to XYZ co. including vat. Also XYZ co. process such semi finished goods into next semi finished goods exclusively for ABC Ltd. and sale to ABC Ltd including vat.
Query: Whether ABC Ltd is liable to deduct tax for payment to XYZ co.?
Thank You
CAclubindia
