TDS U/S 94Q ON PURCHASE OF GOODS
This query is : Resolved
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Priyanka Roy
(Querist)
28 January 2022
Sir we are a distributor and our turnover exceed 11 cr. previous year. we have two supplier whose turnover also above 10 cr. & our every year transaction is almost 2 cr. So, my question is do we need to deduct tds u/s 94q from 1st April on every bill or we need to wait to cross the exemption limit i.e. 50 lacs.
CA R SEETHARAMAN
(Expert)
28 January 2022
You need to wait to cross the exemption limit of 50 lacs.
Priyanka Roy
(Querist)
28 January 2022
Thank u Sir for the suggestion
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