Hello,
I have 3 doubts: namely
1. Tds u/s 194Q applicable on gross purchases or net purchases(excluding gst)?
2. If buyer purchases goods on 5.7.21 worth Rs 60 lakhs, he needs deduct 0.100% on 10 lakhs(60-10 lakhs).. If he again buys goods Rs 75 lakhs, again he needs to deduct tcs @ 0.100% on 75 lakhs or 25 lakhs(75-50 lakhs)?
3.tds conditions is:
a. buyer's turnover should be more than 10 crores in previous FY
b. buyer purchase should cross limit of 50 lakhs in current FY..
question is both the condition should satisfy or any 1 condition enough to apply to make tds?
kindly clarify....
CAclubindia
