Hi Sir/Madam,
I am accountant of a Sole Proprietorship, We have turnover above 10 cr , we are applicable to deduct TDS u/s 194Q from my suppliers when my purchases exceeds 50 lacs from such party from 1st July 2021 onwards.
Here my question is that, Is it my responsibility to know the suppliers turnover whether it exceeds 10 cr or not. Or whenever they gave " Confirmation of sec 194Q applicability " to use, then only is my responsibility to do u/s 194Q.
Can you please answer my Question ?
Thank you sir, Now it is clarified.
| Originally posted by : Pratick Datta | ||
 |
You dont need to know your Supplier's Turnover. If purchase exceeds 50Lakh from the supplier you have to deduct TDS U/S 194Q @ 0.1%. |  |
Thank you Sir
SMJ global advisors pvt ltd
New Delhi
B.Com
View Details
Sri Aurobindo Gnostic Centre of Education
New Delhi
CA
View Details
R P S K & Associates
Nashik
CA Inter
View Details
CAclubindia
