TDS U/s 194Q & applicability

This query is : Resolved

P.Harish (Querist)
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01 August 2021 Dear Sir/Madam
wef 1-7-21, under income tax act , purchaser has to deduct TDS on purchase of goods or payment made above 50 lac . There are some doubts about transactions, kindly help
1) Purchases is made in April month supplier has made TCS on Bill . Total bill AMT is 65 lac ,payment is made in July 55 lac - rest to be made in Aug . Whether TDS 194Q is applicable - on which AMT ? (TCS already by supplier)

2) Purchases made from Vendor in May June 45 Lac & in July 25 Lac ( He did TCS on 45 Lac) ,Payment made to him in July 40 Lac & rest to made shortly . Whether TDS would be applicable ? AMT ?
Thanks in advance

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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02 August 2021 1 No TDS applicable as TCS already made.
2 TDS applicable on 25 lacs.

P.Harish

P.Harish (Querist)
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20 August 2021 Thanks for reply Sir, Under point no 2 it is not clear , TDs would be on only July purchase or Total ₹ 70 Lac - TDs limit ₹50 Lac = 20 lac , , kindly elaborate

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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20 August 2021 Agree with you 20 lacs TDS applicable if there is no purchase in April.

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