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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

Question Posted / sakthi_135

Answers were Sorted based on User's Feedback



Hi, Our Company Purchase Rs:15,00,000 worth of Truck from a person, When at the time of Payment We..

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

Hi, Our Company Purchase Rs:15,00,000 worth of Truck from a person, When at the time of Payment We..

Answer / 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

Hi, Our Company Purchase Rs:15,00,000 worth of Truck from a person, When at the time of Payment We..

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

Hi, Our Company Purchase Rs:15,00,000 worth of Truck from a person, When at the time of Payment We..

Answer / suman rawat

I agree with Sreepanda, That is your Company Fix Assets.not
expenditure.

Is This Answer Correct ?    2 Yes 0 No

Hi, Our Company Purchase Rs:15,00,000 worth of Truck from a person, When at the time of Payment We..

Answer / afthabmayyeri

first answers yes

Is This Answer Correct ?    1 Yes 0 No

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