Liable to deduct
This query is : Resolved
16 October 2023
Dear Experts,
1 A company is starting to purchase the goods from it supplier, which was commenced on 05-08-2023
2 Now the transactions has crossed the limit of Rs 50.00 Lakhs with that supplier.
3 Also this company's turnover is more than Rs 10.00 crore during the last FY.
4 But this company does not aware of the supplier's turnover.
5 The query:
Whether the company is liable to deduct the TDS u/s 194Q from its supplier.
1 A company is starting to purchase the goods from it supplier, which was commenced on 05-08-2023
2 Now the transactions has crossed the limit of Rs 50.00 Lakhs with that supplier.
3 Also this company's turnover is more than Rs 10.00 crore during the last FY.
4 But this company does not aware of the supplier's turnover.
5 The query:
Whether the company is liable to deduct the TDS u/s 194Q from its supplier.
17 October 2023
Yes the company is liable to deduct the TDS u/s 194Q from its supplier.
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