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TDS ON PURCHASE OF BRASS SCRAP UNDER SECTION 194Q

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(Querist)
04 August 2021 If we purchase brass scrap from one party and we provide Form - 27C to seller then we need to deduct tds under provision of 194Q above 50 Lakhs or not ? Please clarify.
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
04 August 2021 Yes, TDS under section 194Q applicable.

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