TDS Deduction Under Section 194Q
This query is : Resolved
Quick Summary
08 July 2024
Please Guide: TDS Under Section 194Q:
Threshold limit for TDS Deduction Under Section 194Q is 50 Lacs.
1. 50 Lacs to be considered is basic amount or total bill amount with GST?
2. TDS to be deducted on balance amount exceeding 50 Lacs once 50 Lacs limit is crossed or on
total purchase amount.
3. If there are transactions of sales and purchase from same party then when to consider the 50
lacs threshold limit (Total of sales & purchase both) or only purchase amount.
Threshold limit for TDS Deduction Under Section 194Q is 50 Lacs.
1. 50 Lacs to be considered is basic amount or total bill amount with GST?
2. TDS to be deducted on balance amount exceeding 50 Lacs once 50 Lacs limit is crossed or on
total purchase amount.
3. If there are transactions of sales and purchase from same party then when to consider the 50
lacs threshold limit (Total of sales & purchase both) or only purchase amount.
08 July 2024
1. Excluding GST (basic amount)
2. Only over purchases exceeding 50 lakhs.
3. Only over Purchases
2. Only over purchases exceeding 50 lakhs.
3. Only over Purchases
26 August 2024
Good luck.
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