194Q WHEN APPLICABLE???
This query is : Open
05 May 2022
My client turnover crossed 10Cr in Feb-2022
should be deducted TDS on purchase U/s194Q for March-2022 (month purchase) or should be started TDS from April (next financial year) onwards.
Please tell me
should be deducted TDS on purchase U/s194Q for March-2022 (month purchase) or should be started TDS from April (next financial year) onwards.
Please tell me
05 May 2022
194Q TDS should be started from April (next financial year) onwards.
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)
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)
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- STCG....................................................
- Supply through E-commerce Operators
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- TAN for Partnership
- Relief u/s Section 89
- Sales return eway bill
- GST Registration Horse racing
- Section 43B(h) – MSME Invoice Paid Before Year End but After 45 Days
- STCG on ETF gold & silver
- If there is Long term capital gain exists how much total income to be considered
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
