07 May 2022
Every person carrying business or profession whose turnover exceed Rs. 10 Cr. in PY and responsible for paying a sum exceeding Rs. 50 lakh in aggregate in current FY to a person resident for value of purchase of goods is liable to deduct TDS @ 0.10% at the time of credit of or payment of such sum which ever is earlier. The TDS is required to be deducted even in case the provision is made. No TDS under this section is required to be deducted if the TDS is deductible or TCS is collectible on the transaction under any other provision except u/s. 206C (1H)
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