Regarding applicability of Sec 194Q

This discussion clarifies the applicability of Section 194Q of the Income Tax Act regarding TDS on the purchase of goods. It confirms that buyers are responsible for deducting TDS if their total purchases from a single supplier exceed 50 lakhs in a financial year, effective from 1st July 2021. Crucially, the buyer does not need to ascertain the supplier's turnover; the obligation to deduct TDS arises solely based on the buyer's purchase value exceeding the threshold.