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TCS ISSUEE

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This query is : Resolved

TARIQUE RIZVI (Querist)

23 October 2021 Dear Friends

I would like to share the below given issue with you.
One of our suppliers wants to collect TCS @ 0.1% u/s 206C as per TCS rule effective from 01-10-2020 but the same time we will deduct TDS @ 0.1% u/s 194-Q effective from 01-07-2021. There is no logic of TCS Collection from the supplier as section 194-Q has eliminated in such case the section 206C.

I would appreciate your comments on this issue.

With best wishes

Yours TARIQUE RIZVI

982 1630 130

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

23 October 2021 Exceptions to the applicability of Section 194Q

The provisions of this section shall not apply to transactions where:

-- Tax is deductible under any other section of the Act
-- Tax is collectible under section 206C other than a transaction to which sub-section (1H) of section 206C applies.

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