TDS Deduction Under Section 194Q

This query is : Resolved

SIDDHARTH MAHESHKUMAR SHAH (Querist)
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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.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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08 July 2024 1. Excluding GST (basic amount)
2. Only over purchases exceeding 50 lakhs.
3. Only over Purchases

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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26 August 2024 Good luck.

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