Hieveryone,
if I purchased machinery say costing rs 5 lakhs which includes installation cost of rs 5000( which is seperate mentioned in bill).is it necessary to deduct TDS.
please suggest answer along with recent judgement and supporting section
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TDS on fixed assets
Replies (5)
No needs to deduct TDS
TDS arises at the time when installation charges in more than 30,000 single bill (sec-194C)
since the installation charges is only 5000 TDS need not be deducted
TDS arises at the time when installation charges in more than 30,000 single bill (sec-194C)
since the installation charges is only 5000 TDS need not be deducted
TDS is not deducted for purchase of fixed assst. If installation charges separatly shows in the bill and it exceeding RS 30000 in single bill then TDS deducted as per section 194C. Hence, in your case installation charges not exceeding limit there is no requirement for deducting TDS.
if overall limit of rs 100000 cross
As per section 194C TDS to be deducted on single payment exceed Rs 30000 and aggregate exceed Rs 100000.
if installation charges are not charged separately in the invoice, Do TDS provision applies. if yes, then on how much of amount??
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