DEAR ALL,
WE ARE PURCHASING FUEL FORM RAM AGENCY AROUND RS. 1,50,000- P.M. WE HAVE NO CONTRACT AGREEMENT TO RAM AGECNY. WE HAVE TO DEDUCT TDS OR NOT PLS GUIDE ME.
DEAR ALL,
WE ARE PURCHASING FUEL FORM RAM AGENCY AROUND RS. 1,50,000- P.M. WE HAVE NO CONTRACT AGREEMENT TO RAM AGECNY. WE HAVE TO DEDUCT TDS OR NOT PLS GUIDE ME.
TDS is not required to be deducted on purchase of any material.
TDS will not be deducted in above transaction.
| Originally posted by :Suhas A. Nagpure | ||
| " | TDS will not be deducted in above transaction. | " |
In books & manuals it is written where the tax will be deducted, how to find where it will not be deducted ?
Agree with Mr. Gujrati
TDS is deductible on contract for work and not on contract for sale. In your case it is contract for sale, so TDS is not deductible.
Yes, TDS is not deductible as pranav shukla rightly said that TDS is deductible on contract for work and not on contract for sale.
State govt. offices usually purchase fuel(for govt. vehicle) from local Petrol Pumps. The petrol pumps submit bills to govt. office for payment. Now, whether TDS on those fuel bills should be deducted by the DDO of the govt office ? Please explain with reasons for deducting or not deducting of TDS mentioning govt. order .
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Gupta Sachdeva & Co. Chartered Accountants
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