TDS to be deducted u/s 194Q on Purchase of Goods exceeding 50 Lac
This query is : Resolved
21 October 2021
If we have purchase the goods of Rs. 40 Lac in September 2021 and we are purchasing the goods of Rs. 20 Lac from same vendor.
1. Then u/s 194Q the TDS liability would be on total purchase of goods Rs. 60 Lac?
2. Or TDS liability will be on difference amount Rs. 60 Lac - 50 Lac = Rs.10 Lac?
Kindly clarify.
Thanks in advance.
1. Then u/s 194Q the TDS liability would be on total purchase of goods Rs. 60 Lac?
2. Or TDS liability will be on difference amount Rs. 60 Lac - 50 Lac = Rs.10 Lac?
Kindly clarify.
Thanks in advance.
21 October 2021
TDS liability will be on difference amount Rs. 60 Lac - 50 Lac = Rs.10 Lac
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