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TDS applicable to all advance payments for goods,

This query is : Resolved 
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(Querist)
15 April 2024 Dear All,

TDS applicable to all advance payments for goods,

For example,
The vendor from whom we are purchasing the goods,

a) First invoice basis value Rs.10 Lakhs
b) Second invoice basis value Rs.20 Lakhs
c) Third invoice basis value Rs.15 Lakhs
d) Fourth Advance paid for goods Rs.8 Lakhs (Basis Value)
Total value Rs.53 Lakhs

Please advise me whether the TDS will be deducted on the above,
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ASHWANI DHANUKA

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ASHWANI DHANUKA (Expert)
15 April 2024 TDS is to be deducted while booking the purchase or payment which ever is earlier. Hence, TDS is need to be deducted at the time of advance payment
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Magesh

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Magesh (Querist)
15 April 2024 Thanks for your reply sir,
But am talking about the 194Q section kindly advice for the same
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
15 April 2024 deduct TDS on 3 lakhs out of advance of Rs 8 lakhs as the TDS is applicable on amounts over and above 50 lakhs.
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