REGARDING APPLICABILITY OF THRESHOLD LIMIT TDS U/S 194Q
This query is : Resolved
Suresh S. Tejwani
(Querist)
07 August 2023
FOR APPLICABILITY OF SECTION 194Q WHETHER PURCHASE RETURN MADE BY ISSUING DEBIT NOTE SHALL BE TAKEN INTO CONSIDERATION FOR THE PURPOSE OF CALCULATION OF THRESHOLD LIMIT OF 50L IN ANY FINANCIAL YEAR?
IF DEBIT NOTE ISSUED BEFORE THRESHOLD LIMIT CROSSED IN ANY FINANCIAL YEAR WHTHER THAT WOULD BE INCLUDED IN CONSIDERING THE THRESHOLD LIMIT?
OR
TDS WOULD BE APPLICABLE DIRECTLY ON PURCHASE VALUE WITHOUT CONSIDERING PURCHASE RETURN BY ISSUING DEBIT NOTE?
IF DEBIT NOTE ISSUED BEFORE THRESHOLD LIMIT CROSSED IN ANY FINANCIAL YEAR WHTHER THAT WOULD BE INCLUDED IN CONSIDERING THE THRESHOLD LIMIT?
OR
TDS WOULD BE APPLICABLE DIRECTLY ON PURCHASE VALUE WITHOUT CONSIDERING PURCHASE RETURN BY ISSUING DEBIT NOTE?
CA R SEETHARAMAN
(Expert)
07 August 2023
Purchase return debit note has to be taken into consideration for the purpose of threshold.
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