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Applicability of TDS u/s 194Q on purchase of Vehicle

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Practice
3 Points Joined August 2021
Is TDS under section 194Q applicable on purchase of Assets (eg: car) above the threshold limit?
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On 07 June 2022 at 19:36 Report
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582 Points Joined June 2018
No...TDS U/s 194Q is not applicable because the seller has to charge TCS U/s 206C(1F) if selling value is above Rs.10,00,000/-
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On 07 June 2022 at 22:22
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17 Points Joined September 2021
If car value is less than 10 lacs, then 194q applicable. tds has to be deducte.
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On 08 June 2022 at 10:13
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37 Points Joined February 2021
First we will have to read both the section that is 194Q and 206C(1F)
it both the section applicable in one scenario then section 206C(1F) will prevail
For car purchase 206C(1F) is APPLIED
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On 08 June 2022 at 11:45
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AUDITOR
2 Points Joined January 2023

No...TDS U/s 194Q is not applicable because the seller has to charge TCS U/s 206C(1F) .

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On 29 February 2024 at 11:55

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