Which amount TDS liability
This query is : Resolved
Quick Summary
20 February 2024
Sir, we made advance payment of Rs. 1 crore on 03.12.23 to buy a machine worth Rs. 2 crore, but no TDS was deducted, now today invoice received, so which TDS and late payment penalty will arise, and which amount. Kindly advice.
Thanks
Thanks
Gokul Sharma
(Expert)
21 February 2024
no TDS Applicable on Material Purchase.
check whether there is Contract involved to maintain the machine.
check whether there is Contract involved to maintain the machine.
21 February 2024
Thanks sir for reply, sir, section 194Q not affected on above transection.
Gokul Sharma
(Expert)
21 February 2024
194Q WILL APPLY AS THIS SECTION RELATED TO PURCHASE OF GOODS.
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