interest on late payment of TDS u/s 194q - calculated from date of purchase or payment? For example purchase booked in April and payment made in May. Someone claimed that there is an explanation from department that same should be calculated from the date of payment but I couldn't find and not convinced too
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Interest on late payment of TDS u/s 194q - calculated from date of purchase or payment?
Replies (2)
Quick Summary
Should be calculated from the date of purchase. Please go though department clarification on 194-Q also.
https://incometaxindia.gov.in/communications/circular/circular_13_2021.pdf
Yes, I agreed to Mr Aejaz.
@ Mr Rakesh Mishra,
TDS to be deduct on date of Purchase or Date of Payment which is earlier...
@ Mr Rakesh Mishra,
TDS to be deduct on date of Purchase or Date of Payment which is earlier...
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