TDS on Purchase-

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This discussion clarifies whether Tax Deducted at Source (TDS) applies to purchases made before 30.06.2021, even if payment is made after this date. The consensus is that if Tax Collected at Source (TCS) has already been charged and paid by the vendor upon receipt of goods, then TDS under Section 194Q is not applicable.

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(Querist)
30 June 2021 Sir
if company is paying (on 02.07.2021) to vendor against purchase of goods (above Rs. 50 Lakh) purchased before 30.06.2021 and vendor has already charged TCS (receipt of goods) and paid the same. In this case if TDS on purchase will be deducted or not???????
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CMA Poornima Madhava

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CMA Poornima Madhava (Expert)
30 June 2021 TDS u/s 194Q is not applicable if TCS was already collected.
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Ritu

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Ritu (Querist)
29 July 2021 Thank you so much mam...
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