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Limit of Rs 50L u/s 194Q & 206C(H)

249 views 3 replies

kunwar saw

intermediate

25 Points Posted on 09 September 2022

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)

Dhirajlal Rambhia

SEO Sai Gr. Hosp.

211624 Points Posted on 09 September 2022

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.....

kunwar saw

intermediate

25 Points Posted on 13 September 2022

My question is, whether i have to check every year that the purchase has exceeded 50 lakh or not??

kanavu kumare

4 Points Posted on 14 September 2022

Yes. You have to check every year

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