Regarding tds on sale and purchase
This query is : Resolved
22 December 2024
Sir
One of our debtors is also our creditors almost over 3 cr sale and purchase can we deduct tds on purchase of goods
@ 1% or there is another rate
One of our debtors is also our creditors almost over 3 cr sale and purchase can we deduct tds on purchase of goods
@ 1% or there is another rate
22 December 2024
Yes, you can deduct TDS at 0.1% on the purchase of goods value above INR 50 Lakhs, if the conditions of Section 194Q are met.
The relationship as a debtor or creditor does not exempt you from the TDS deduction requirement, as long as the total purchase amount exceeds Rs. 50 lakh and other conditions are satisfied.
The relationship as a debtor or creditor does not exempt you from the TDS deduction requirement, as long as the total purchase amount exceeds Rs. 50 lakh and other conditions are satisfied.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- Unregistered suppliers utility
- Difference between Date of Payment and Date of Deduction?
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- URGENT-Eligible leaves being shown as 24 days for 3 years Articleship instead of 156 days in 108
- Same demand raised for original as well as rectification request return
- Sale of property held jointly with a non resident Indian
- ADDITION OF CHALLAN IN TDS RETURN FORM 140
- TODAY INCOME TAX SITE IS NOT WORKING ANY OFFICIAL EXTENSION
- The TDS balance for March 26 shows a mismatch between the books and the portal; what should be done
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
