194Q Applicable on Purchase of Milk from Farmers
This query is : Resolved
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12 August 2023
We have a dairy company and Milk directly purchase from various farmers.
194Q applicable on this transaction if limit exceeds Rs 50 Lacs in a year.
194Q applicable on this transaction if limit exceeds Rs 50 Lacs in a year.
12 August 2023
Yes, as the dairy farming is taxable under IT act.
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10 September 2024
Good Luck.
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