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Regarding Sec 194Q and 206C of Income tax Act

This query is : Resolved 
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(Querist)
20 January 2024 Respected Sir/Madam,
My query in context to Sec 194Q TDS and Sec 206C TCS, If Seller collect TCS till dec 2023 on sales but turnover of buyer exceeds 10 crores in previous year then 194Q prevails, In this case now, buyer deduct TDS from Jan 2024 and send declaration to Seller for deduction of TDS 194Q then for previous nine months till dec 2023 buyer not able to deduct TDS 194Q then in this case is there any non compliance notice received from the dept or any demand notice issued by dept.

Kindly guide or help in this regard
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
20 January 2024 TCS collected till December 2023 no need for TDS 194Q again you can reply to the notice if any received.
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Jaswinder singh

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Jaswinder singh (Querist)
21 January 2024 Thank you sir..............
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