194Q applicable for capital goods ?

194Q applicable for capital goods ?
like plant & machinery or vehicles etc


Thanks expert
Replies (2)
Quick Summary
Section 194Q of the Income Tax Act applies to the purchase of 'goods', which includes all movable property. This means that Tax Deducted at Source (TDS) must be deducted on the purchase of capital goods, such as plant, machinery, and vehicles, regardless of their classification.

Yes...

'goods' means every kind of movable property subject to certain exceptions and inclusions, irrespective of whether it is capital goods or not. Hence TDS to be deducted on purchase of capital goods also.

Thanks Sir

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