TDS u/s 194Q Calculation
This query is : Resolved
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Vipul Acharya
(Querist)
06 October 2021
Is TDS u/s 194q to be deducted on Net Purchase (Purchase -Purchase Return) or what
Suppose I have Purchase of Rs. 100000 out of that 30000 is return, so i am deducting TDS on 70000 only
Suppose I have Purchase of Rs. 100000 out of that 30000 is return, so i am deducting TDS on 70000 only
CA R SEETHARAMAN
(Expert)
06 October 2021
Yes, deduct on net purchase.
07 October 2021
For more clarity, please refer clause 4.3.3 of CBDT circular 13/2021 dated 30-06-2021.
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