TDS and TCS on Energy Bill

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Subhash (Querist)
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13 October 2022 1. Whether TDS u/s 194Q is applicable on payment of Electricity Bill over 50 lacs in a year ?

2. What if, Electricity Company deduct TCS on Sale of Energy above 50 Lacs in a year to an Audit Firm. ?

CA Vivekanand Pote

CA Vivekanand Pote (Expert)
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13 October 2022 As electricity is goods and purchases during FY is more than Rs. 50 Lacs, TDS will be deducted u/s 194Q @ 0.10%

CA Vivekanand Pote

CA Vivekanand Pote (Expert)
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13 October 2022 As electricity is goods and purchases during FY is more than Rs. 50 Lacs, TDS will be deducted u/s 194Q @ 0.10%

Subhash

Subhash (Querist)
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13 October 2022 Thanks,

So we need to take Electricity Compnay's PAN for the same.

And , what if electricity company is deducting TCS on electricity bill. ?

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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04 November 2022 No need to deduct TDS u/s. 194Q, if electricity company is charging TCS....

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