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Shivek Pandey   24 September 2021

Applicability of TDS u/s 194Q

What if I was a firm having turnover > 10 crores, now I have turned my firm to a Pvt. Ltd. Company, and the company is having turnover < 10 crores. Will TDS provision u/s 194Q be applicable for company in next FY since it is a case of succession, will turnover of firm and company be aggregated?? 

 3 Replies

shobha m

shobha m (articale student)     24 September 2021

Next year is not applicable for 194Q to your firm /company
Your turnover is exceed 10crores TCS is applicable for you
Deepak Kumar

Deepak Kumar   24 September 2021

I think no. your turn over is less than 10crore preceding Financial year not applicabe section 194q
Ashok J

Ashok J (CA Final)     29 September 2021

To determine whether 194 Q is applicable to  new company in FY 22-23, I think it is correct to add both firms turnover and decide. Does 194Q specifically state, in case of conversion, you should consider only successor firm turnover for 194Q? No. So you should add both

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