example XY. Turnover croses 10 cores P Y ( purchase party )
. . ZX. Turnover croses 10 cores
P Y
(sales party )
ZX collected tcs while making bill to XY
already ZX (SALES PARTY) collected tcs. XY (PURCHASE PARTY ) IS manditory to deducted tds making payment to ZX ..
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194Q section
Replies (3)
Quick Summary
Primary responsibility is that of buyer. However, since tax has already been collected by the seller, the buyer is again not required deduct tax at source on the same transaction
1st 194 Q -Buyer.
206C(1H) Applied exclusively-No need to deduct TDS u/s 194 by the buyer.
206C(1H) Applied exclusively-No need to deduct TDS u/s 194 by the buyer.
Yes agree with poornima
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