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TCS ISSUEE

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(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
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Dhirajlal Rambhia

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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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