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Tds on purchase of wood material

TDS 7076 views 8 replies

We are Pvt ltd co in Mumbai. We are having some renovation work in our office. for that we have purchased wood material and made payment as follows:

24.10.2013 - 125074/- paid to supplier by cheque

18.11.2013 - 38023 /- paid to supplier by cheque

and I have received one more invoice of Rs.53426/-

So Should I have deduct TDS on above transaction. If I deduct TDS now then there will be late payment fees. How can I avoid late payment fees?

 

Replies (8)

TDS will not apply because you are purchasing goods.

Originally posted by : Mihir
TDS will not apply because you are purchasing goods.

Agreed!!!!

tds not applicable on purchase of wood(material)

There is no tds on any purchase.

U cannot charge TDS bcoz your purchasing physical thing.
Purchase of goods is not subject to tds if any other service is received relating to good then tds may attract
as per ur query ,.the tds not deducted on wood purchased, but tds would be deduct on contract value( 2% if compny, 1% if non compny )when party generate invoice.
sir i purchsed wooden momento and i have deducted tds that write or wrong plz explain


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