TDS U/s 194Q on purchase of Fixed Assets

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TDS u s 194Q applies on purchase of movable goods exceeding Rs 50 lakh excluding GST. It does not apply to immovable property, where TDS is governed by section 194IA.

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(Querist)
21 November 2022 Dear Sir,

If any fixed assets (movables or immovable) purchased for company use and their purchase value (excl. GST) exceed Rs. 50 Lakh, then whether TDS U/s 194Q is applicable on purchase value above Rs. 50 Lakh.

Thanks & Regards,

Dilip Baranwal
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
21 November 2022 194q applicable only for movable assets.
For immovable assets TDS applicable under section 194IA.
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