Regarding Sec 194 Q of Income Tax

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Respect all,

I have a query regarding section 194 Q of Income Tax

I have purchased goods from My suppliers is Rs.70/- Lakhs exclueding gst for the period from April 21 to Jun 21 that is over Rs.50/- Lakhs & We have a purchased good of Rs.10/- Lakhs from him in Jul 21

Now on which amount we have to deduct TDS on Rs.10/-Lakhs or Rs.30/- Lakhs ( Rs.70 Lakhs - 50 Lakhs = Rs.20 Lakhs + Rs.10 Lakhs )

Replies (3)
TDS should be deducted at the amount above 50 lakhs rupees on the whole amount
TDS to be deducted on 10 lakh, as provisions of section 194Q is applicable from 1st july 2021 onwards

thank you .

Thats what I want to confirm


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