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TDS 194Q

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(Querist)
05 July 2021 Is TDS U/s 194Q applicable on payment of previous year dues against the purchase of material if old due is more than 50 lakhs and transaction during the year is also more than 50 lakh?
buyer turnover is more than 10 crore.
is buyer is liable to deduct TDS U/s 194 Q on old payment and purchase after 01 july 2021

plz help
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CMA Poornima Madhava

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CMA Poornima Madhava (Expert)
05 July 2021 If either purchase or payment is made prior to 1st July, then 194Q is not applicable on such transactions.
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