194Q TDS on Purchases turnover
This query is : Resolved
26 July 2023
Sir/Mam,
one company turnover crossed 31-03-2023 10 crores, when 194Q TDS applicable this fy or last fy
1) if any purchased crossed last fy 2022-23, 50 Lakhs and payment paying in this year we have to deduct tds u/s.194Q @ 0.1% or not, please clarify
2) in this FY 2023-24 we have to deduct TDS U/s.194Q 0.1% if any purchased crossed 50 Lakhs or below.
3) If Our sales crossed 50 Lakhs what we have to deduct TCS or TDS
Plz clarify all my doubts.
Thanking you,
one company turnover crossed 31-03-2023 10 crores, when 194Q TDS applicable this fy or last fy
1) if any purchased crossed last fy 2022-23, 50 Lakhs and payment paying in this year we have to deduct tds u/s.194Q @ 0.1% or not, please clarify
2) in this FY 2023-24 we have to deduct TDS U/s.194Q 0.1% if any purchased crossed 50 Lakhs or below.
3) If Our sales crossed 50 Lakhs what we have to deduct TCS or TDS
Plz clarify all my doubts.
Thanking you,
CA R SEETHARAMAN
(Expert)
27 July 2023
Any buyer sales crossed last year, 194q tds applicable.
For any purchase from a seller exceeding 50 lacs TDS of 0 .1% applicable on sale in excess of 50 lacs.
For any purchase from a seller exceeding 50 lacs TDS of 0 .1% applicable on sale in excess of 50 lacs.
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