TDS u/s 194Q on Pricipal agent relationship
This query is : Resolved
Sounik Mukherjee
(Querist)
22 September 2021
We are a consignment agent of a Company. We arise bills (towards supply of principal's goods to their customer) on behalf of my principal declairing that "we are a consignment agent Company" in the invoices. We also collect payments for the bills raised by us to principal's customers in our bank account and transfer the amount to my principal after deducting our applicable commissions. My principal sends goods based on a zero value tax invoice (only Goods and service tax portion is mentioned). My question is how the receiver of goods will deduct income tax u/s 194Q. If you need any further infomation, please let us know
CA R SEETHARAMAN
(Expert)
23 September 2021
Ask receiver of goods deduct TDS on principal name. Ask principal to deduct TDS on commission from you.
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