CA Piyush Agarwal
Quick Summary
TDS on payment of a certain sum for purchase of Goods - New Section 194Q inserted by The Finance Bill Budget 2021-22
|
Particulars |
Scenario-1 |
Scenario-2 |
Scenario-3 |
|
Turnover of Seller (In Cr.) |
12 |
6 |
12 |
|
Turnover of Buyer (In Cr.) |
6 |
12 |
12 |
|
Sale of Goods (In Cr.) |
2 |
2 |
2 |
|
Sales Consideration paid during the year (In Cr.) |
1 |
1 |
1 |
|
Who is liable to deduct or collect tax? |
Seller |
Buyer |
Buyer |
|
Rate of Tax |
0.1% |
0.1% |
0.1% |
|
Amount on which tax to be deducted or collected (In Cr.) |
0.5 |
1.5 |
1.5 |
|
Tax to be deducted or collected |
5,000/- |
15,000/- |
15,000/- |
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