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
- 5 Answers
- 8861 Views
- Bajaj, I also Faced
- E-Mail Answers
Answer Posted / narsimulu
Yes you are purchased a truck of 1500000 rupees.its ok
U should not diduct the TDS because tds will deduct only on
expenditure not on purchase of fixed assets and not on
goods purchased.
| Is This Answer Correct ? | 8 Yes | 2 No |
Post New Answer View All Answers
Our Company dedduct TDS on the collection charge and claim (rate diff claim, scheme claim, collection charge means , if any party take material directly form our store our company give them frieght charge and deduct tds@10.30%). my question in what category of this type of TDS decution ? is it payment to contractor or what ?
if i have a comany take contract from gvt. & i take contract from that company, & in his bill he show about all tax deduction ike IT, WCT etc, but material is purchase by that company not by us so here i want to know how WCT applicable? on total amount of contract or according to rule like material service & after adding all things??
Does the tax liability of an individual get affected due to his residential status? If yes, explain.
i want to know that how much input credit we can take of service tax if our input service tax is greater than of out service tax what we should do?,,,,,,,,,,plz reply as soon as possible
Can we use ST-38 outward form for a sale of Rs-100000/- with in the state i.e haryana
agar hum koi sale return 3 month ke andar hi receive krte hai or part uski cst purchase ka bill deti hai or humse c form mangti hai to kya hum use LS-10 me tax benefit ke liye and LP-3 me c form issue krne ke liye kyoki central purchase ka haryana vat me benefit nhi milta kya dono form LP-3 and LS-10 me hum us return ko show kar skte hai
we issued the H form for the 1st quarter 2014-15 but in the 2A we posted the wrong TIN no of party and H form is also contains the wrong TIN No.if anybody know the correct procedure for correction of H Form kindly tell us.
What are the streamlined sales and use tax agreement?
do we have tds in nigeria
Rules for filling Income Tax return for a domestic manufacturing company.
IF a vendors charges WCT @8.75% what is the rate of TDs to be deducted against that? & can we take the Input of it?
is WCT applicable one time? and what will be rate of WCT in UP State?
what is the difference between vat return and return for remittance on value added tax.
what is the detail procedure to filling ITR-I,ITR-II AND ITR- 1V V1 IE e-filling procedure
Sir, We purchased coal from NCL on CST basis. An incentive is paid on the basis of performance basis of NCL. NCL Raise there incentive bill for Rs. 1000+CST2% Rs.20 Total Rs. 1020/-. But As per Our Calculation, Incentive bill should be Rs. Basic 900+18 (CST)total Rs. 918. We argue and disputed and paid only Rs. 918/- . After Some time they also agree that incentive amount should be Rs. 900+CST but Now they revised the bill like this Basic Incentive Rs. 900+CST Rs.20/- (Original Tax value). And now they are demanding C for with CST 20/- but our pleas is that we are not liable for the mistakes made by the NCL and will issue C for for Rs. 18 Only. Now They are demanding C for for difference of Rs. 2 of CST. My Question is what should be the actually value of C form for CST ie. Rs. 18 or 20. considering the fact that we accounted only rs. 918/- in books and disputed is resolved after one year for basic value.
