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TDS 194Q & 206C(1H)

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(Querist)
01 August 2022 If both the business entity not crossed 10 cr turnover in the previous year, but croseed ceiling limit of 50 lakhs turnover in current financial year which provision will apply for tds ?

What is the reason for ceiling limit Rs.10 Crores set for TDS/TCS
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
01 August 2022 No. due to Turnover limit – it will not apply to individuals who had a gross turnover of less than Rs. 10 crores in the year before the year in which items are purchased.
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