Hi, Our Company Purchase Rs:15,00,000 worth of Truck from a
person, When at the time of Payment We deduct TDS or Not?
Note: There is No Agreement or Contract with them
I need the Help.
Regards
Sakthi
Answers were Sorted based on User's Feedback
Answer / h.r. sreepada bhagi
Your company has purchased an asset. It does not come under
TDS purview. So need not deduct any tax from the money payable.
Is This Answer Correct ? | 15 Yes | 2 No |
Answer / aman
U DID NOT DEDUCTED TDS ON PURCHASE .ITS DEDUCTED ONLY ON
EXPENSES, YOU GET ONLY INPUTVAT ON CAPITAL GOODS.IF YOU
REGESTERED IN VAT.
Is This Answer Correct ? | 5 Yes | 3 No |
Answer / suman rawat
I agree with Sreepanda, That is your Company Fix Assets.not
expenditure.
Is This Answer Correct ? | 2 Yes | 0 No |
Define the 'Input Tax' in respect of Service Tax Act. What type of Input tax can be taken for the credit of tax payble?
What is the procedure for Sales Tax Filing? which can come under this head. whn we file it? wat r all the materials to be submitted? For eg: i hav a company named 'A'in chennai. my branch 'b' is in Bangalore. the sales made in bangalore can be (come for sales Tax Filing)filed in chennai? and also the purchase from bangalore can be(Sales tax filing) filied in chennai?
4 Answers ABC, Agon, Marketing Sales, Mindlogicx,
when company issue c form to the seller it has to issue full amount of purchases or it has to deduct the 2% of cst amt Ex; purchase for rs.10000/- which includes 40 cst we have to issue c form for rs.9960 or we have to issue for rs.10000/- which one is correct
19 Answers Libratherm Instruments, Mobis India, Wipro,
what are the ways of paying service tax and vat montly manually??
What is the diff between Comercial tax and sales tax?
what is the deffirent between TDS & TCS
the amount of tds is remain same shall will be deducted by deductor or deductee
How can you know assesse type for tds deduction from PAN No. Like Company,association like that
2 Answers National Safety Council,
What will be journal entry for TDS deducated from an freight payment of RS. 15000.00 , applicable TDS rate is 2.266%
what is wct? what is it applied ?
What is minium bill of TDS Deduction Example If Contractor give us 1st Bill - 10000/- 2nd Bill - 15000/- 3rd Bill - 7000/-
D form isse quartly or yearly by gov.?