Avail 20% discount on updated CA lectures for Dec 21 .Use Code RESULT20 !! Call : 088803-20003

ICICI

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

194Q applicability on High Sea Purchases


I have vendors who are registered in Delhi, I do High Sea Purchases and Import Purchases from him

Is TDS u/s 194q applicable against goods purchased from them

In the given case supplier and buyer (i.e.,you) both are residents and you are paying consideration against purchases during the year. If your entity's previous financial year turnover threshold criteria is met, and purchases from the said supplier has crossed Rs.50 lacs in current financial year, then you have to deduct tax u/s 194Q. Because there is no exception carved out for high sea purchases.
But it's not applicable on import purchases from supplier outside India (i.e., not a resident)



You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


Similar Resolved Queries

loading





Trending Tags