Sec 194 Q/206 C1H
This query is : Resolved
02 July 2021
Dear Experts,
My organization had turnover of less than 10 Cr. in previous year, if we have not received declaration u/s 194 Q from buyer ( we have not confirmed whether they will deduct TDS).
Now, we are liable to charge TCS or Not , as in previous year my turnover is less than 10 Cr.
If Buyer will deduct TDS there is duel taxation ?
My organization had turnover of less than 10 Cr. in previous year, if we have not received declaration u/s 194 Q from buyer ( we have not confirmed whether they will deduct TDS).
Now, we are liable to charge TCS or Not , as in previous year my turnover is less than 10 Cr.
If Buyer will deduct TDS there is duel taxation ?
02 July 2021
TCS not applicable to you for this year because turnover within the threshold limit. The buyer will deduct tax at source u/s 194Q wherever applicable.
02 July 2021
But as I understand sec. 194Q prevail the section 206 C(1)H.
02 July 2021
You are right. But the query here is different right?
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