banner_ad

On purchase TDS applicable or TCS

This query is : Resolved 
Profile Image

Profile Image

(Querist)
04 November 2021 Dear sir,
If same party we purchase and sales then TDS or TCS
On sales in voice we charge TCS Because our turnover is above ten crore and second condition is also full filed on current F.Y we sales above 5o laks
But on purchase on purchase TDS or TCS
Profile Image

Dhirajlal Rambhia

Profile Image

Dhirajlal Rambhia (Expert)
04 November 2021 If your purchase has exceeded 50 lakhs from same party, you also need to deduct TDS u/s. 194Q on your purchase above 50 lakhs.
TCS is on sales, while TDS is on your purchase, both applicable.
As section 194Q overides section 206C(1H), whenver your customer would be eligible for deduction of TDS u/s. 194Q, you will be relieved of your responsibility to collect TCS for same transactions.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
ARTICLESHIP 15 May 2026
ARTICLE ASSISTANT, TRAINEE AND PAID ASSISTANT

YOGESH KAPOOR AND ASSOCIATES

New Delhi

B.Com

View Details
Company
ARTICLESHIP 04 June 2026
Article

Rakhecha & Co.

New Delhi

CA Inter

View Details
Company
08 May 2026
Paid Assistants

Quick Taxperts Private Limited

Bengaluru

Graduate (Any)

View Details
Company
11 May 2026
AUDIT INTERN

M/S K.K.KHANNA AND COMPANY

Noida

CA Foundation

View Details
Company
16 May 2026
Audit clerk

mgirt & co

Bengaluru

CA Inter

View Details
Company
29 May 2026
Finance Head

Bhawar Sales Corporation

Chennai

Graduate (Any)

View Details
Company
Featured 26 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
23 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details