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
- Closing Stock111
- INVOCIE GENERATED FROM ONE COMPANY AND EWAY BILL G
- Ineligible itc under section 16(4) & itc restr
- Itc on when mixed sales percent in hospitality
- Apply for GST registration while working in MNC
- Deferment period for Advance Tax under Section 234
- Permanant transfer of duty free goods by Advance A
- 1% TDS Deduction on Property purchase through inst
- Tax on leave encashment on retirement
- Guidance Required on Notices Under Section 234B Af
Related Threads
CAclubindia
