TDS u/s 194Q Calculation
This query is : Resolved
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
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.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CG Tax On residential property
- Post Office RD Interest
- Applicable TDS for Purchase of Flat from NRI
- Eway bill for machinery reparing
- Claiming exemption of perquisite for employee-owned car under New Tax Regime in ITR-2
- Under construction property in ITR
- Gift of mutual fund units to daughter
- Not able to file ITR
- Upload Level ValidationITR3Category of Defect B/D
- Reporting of STCG on Property in ITR
- ITR-4 vs ITR 5
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
