TDS 194Q Purchase of Goods
This query is : Resolved
09 August 2024
My doubt is
A company (Buyer) purchased goods 45,00,000 + GST 5,40,000 = 50,40,000 goods from B company (seller). Turnover of Buyer in preceding PY more than 10 crores.
is TDS u/s 194Q applicable to above transaction?
Answer 1: Not applicable as goods value is not exceeding 50 Lakhs
Answer 2 : TDS applicable as Invoice Value exceeds 50 Lakhs
which answer is correct? Plz guide
A company (Buyer) purchased goods 45,00,000 + GST 5,40,000 = 50,40,000 goods from B company (seller). Turnover of Buyer in preceding PY more than 10 crores.
is TDS u/s 194Q applicable to above transaction?
Answer 1: Not applicable as goods value is not exceeding 50 Lakhs
Answer 2 : TDS applicable as Invoice Value exceeds 50 Lakhs
which answer is correct? Plz guide
09 August 2024
Not applicable as goods value is not exceeding 50 Lakhs ............. Correct
09 September 2024
Good Luck.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- DELIVERY GOLD & SILVER AND OTHER ETF TRADING PROFIT AS BUSINESS INCOME
- GSTR-1A How to update Invoice
- Excess salary payment.
- 3cd- cash system of accounting is allowed?
- Provision for loans that are under Revenue Recovery
- APPLICABILITYOF GST ON STUDENT HOSTEL FEES
- Form 121-contradictory opinions
- Capital gain from sale of house property
- Stamp Paper for partnership firm change new income tax 2025
- Is Personal Guarantee of Director is Compulsory in case of loan to company ??
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
- Updated return in budget 2026
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
