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
- SPOM FOR CA FINAL
- Are AI tools like ChatGPT actually useful for CA w
- UK TAX (HMRC) HELP WITH INVESTIGATIONS, DISPUTES,
- Payment processor not transferring or refunding pa
- Form 16 format
- 17(5) Blocked ITC
- Transfer of equity shares to original owner
- Login credentials and payment acknowledgement not
- Export sales not realised payment not received fro
- Capital gain account amount utilisation
Related Threads
CAclubindia
