GST TDS or TCS
This query is : Resolved
23 October 2021
Sir/Mam,
we have purchased 1204500/- material from party and received tax invoice and again we are planning to purchase material nearly 25+25 lakhs from same party how 194Q TDS @0.1% calculate over 72 lakhs or only 50 lakhs please clarify my doubt and kindly explain 194Q Section
we have purchased 1204500/- material from party and received tax invoice and again we are planning to purchase material nearly 25+25 lakhs from same party how 194Q TDS @0.1% calculate over 72 lakhs or only 50 lakhs please clarify my doubt and kindly explain 194Q Section
23 October 2021
TDS u/s 194Q will be deductible over (72-50) 12 lakhs.
The value or aggregate of value should be exceeding Rs.50 lakhs in any Previous Year
The rate of TDS shall be 0.1 per cent of the amount in excess of Rs.50 lakhs.
The value or aggregate of value should be exceeding Rs.50 lakhs in any Previous Year
The rate of TDS shall be 0.1 per cent of the amount in excess of Rs.50 lakhs.
23 October 2021
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