SEO Sai Gr. Hosp.
197052 Points
Joined July 2016
Section 194Q provides that any person, being a buyer who is responsible for paying any sum to any resident (hereafter in this section referred to as the ‘seller’) for purchase of any goods of the value or aggregate of such value exceeding fifty lakh rupees in any previous year, shall, at the time of credit of such sum to the account of the seller or at the time of payment thereof by any mode, whichever is earlier, deduct an amount equal to 0.1% of such sum exceeding fifty lakh rupees as income-tax.