TDS and TCS on Energy Bill
This query is : Resolved
Quick Summary
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. ?
2. What if, Electricity Company deduct TCS on Sale of Energy above 50 Lacs in a year to an Audit Firm. ?
CA Vivekanand Pote
(Expert)
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
(Expert)
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%
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. ?
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
(Expert)
04 November 2022
No need to deduct TDS u/s. 194Q, if electricity company is charging TCS....
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