TDS TO BE DEDUCTED

[Guest]

Dear Sir,

Can you please explain

1) How do I decided whether TDS to be deducted or not on any Invoice received from Vendor.

2) Do I need to deduct a TDS on printing stationer zerox and muncipal taxes.

3) what is basic of TDS

[Ganeshan Kalyani]

Tds is not applicable on purchase on printing and stationery. Tds is applicable when service is received and to be deducted from the payment to be made to service provider. Tds are deducted under different heading for different services. few are contract, professional services, rent, interest etc. Basic exemption are given to each of these services.

[Guest]

Dear Sir,

Thanks for your reply, but when we paid any Deposit should TDS be deducted while paying Deposit or Deposit getting back from the party ?

[Ganeshan Kalyani]

Deposit is not a consideration for service it is just a security deposit and therefore no TDS on deposit. this is my view.

AI Summary

TDS Not Applicable on Printing & Stationery Purchases; Applies to Services and Contracts with Exemptions Available A participant in a discussion forum inquired about the applicability of Tax Deducted at Source (TDS) on invoices from vendors, specifically regarding printing, stationery, and municipal taxes. A respondent clarified that TDS is not applicable to purchases of printing and stationery, but it applies to payments for services such as contracts, professional services, rent, and interest, with basic exemptions available. Another question about TDS applicability on deposits was raised, to which the response was that deposits are not subject to TDS as they are considered security deposits, not service considerations.