New section 194Q

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6 Points Posted on 25 June 2021
if a person having turnover 10 cr in last year and that person have a bill of electricity from electricity department more than 50 lac then that this expense also came in the ambit in 194Q
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On 25 June 2021 at 15:02 Report
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This discussion clarifies whether electricity bills are included under Section 194Q of the Income Tax Act, which pertains to the purchase of goods exceeding 50 lakhs. The consensus is that electricity bills do not fall within the ambit of Section 194Q. However, it's noted that Tax Collected at Source (TCS) might still be collected by the electricity department on such transactions.

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111 Points Posted on 25 June 2021
194q is for the person who purchase goods >50lakhs
Electricity bill does not under the ambit of 194q
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On 25 June 2021 at 16:57
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837 Points Posted on 25 June 2021
I agree with Sujitha.
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On 25 June 2021 at 17:10
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tax consultant
3306 Points Posted on 26 June 2021
Dont worry about electricity bill
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On 26 June 2021 at 09:36
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6 Points Posted on 28 June 2021
But on same transaction tcs is collected by jvvnl department on assessee....
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On 28 June 2021 at 13:21

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