Whether to deduct TDS in caseof
1. A vendor from whom purchase of printing & stationery exceeds Rs.50000-. in a year.
2. In case of vendor who provides Labour with material and has exceeded Rs.50000-(No seperate bill is issued for labour).
In above cases do we have to deduct TDS.
Kindly suggest. Its urgent
Dear Sanket,
1) TDS will not be deducted.
2) TDS will be deducted on the total amount of bill.
Dear Sanket,
This is one of the FAQ clariofied by the CBDT in circular no. 715
Question 15 : Whether section 194C would apply in respect of supply of printed material as per prescribed specifications ?
Answer : Yes.
CAclubindia
