Menu
Limit of Rs 50L u/s 194Q & 206C(H)
To deduct TDS u/s 194Q, Do i need to check each year whether the total purchases have exceeded Rs. 50 L or not, or i can continue the practice of deduction of TDS?
Replies (3)
Correct, the TDS is applicable only over the purchases made above Rs. 50 lakhs.
In case purchase doesn't exceed 50 lakhs no question of deducting TDS u/s. 194Q of the act.....
My question is, whether i have to check every year that the purchase has exceeded 50 lakh or not??
Yes. You have to check every year
Recent Threads
- Rcm payable which head
- Query of GST
- Long Term Capitalgains on sale of residential prop
- How Salaried Individuals Can Reduce Capital Gains
- NSTPI registration
- GST PAID IN DELHI
- How to Trade Forex in India?
- TDS - requirement of TDS by individual under presu
- Normal Register in GST in delhi in gujarat no rece
- ITC availment relationship
Related Threads
CAclubindia
