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Sale of goods act

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865 Points Posted on 24 August 2024
There is no definition in regard of goods
in Income tax act.

But in sale of goods act 1930 there is a definition of goods.

As per sale of goods act 1930 , shares include in goods.

So , my question - is tds u/s 194 Q , is applicable to purchase of preference shares ?
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On 24 August 2024 at 13:05 Report
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SEO Sai Gr. Hosp.
211693 Points Posted on 24 August 2024

GUIDELINES BY CENTRAL GOVT VIDE CIRCULAR NO-13 OF 2021

 TRANSACTIONS CARRIED THROUGH EXCHANGES

Section-194Q Not Applicable Where

  •  Transactions In Securities & Commodities Through Recognised Stock Exchanges Or Cleared And Settled By Recognised Stock Exchanges.
  •  Transactions In Electricity, Renewable Energy Certificates & Energy Saving Certificates Traded Through Power Exchanges Registered In Accordance With Regulation 21 Of CERC


581 Reply
On 24 August 2024 at 13:40
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865 Points Posted on 24 August 2024
Preference shares not purchase from or controlled by stock exchange. A parent company purchase shares from his holding company, by resolution passed.
Is tds 194 Q applicable. Is shares treated as Goods.
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On 24 August 2024 at 14:26
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SEO Sai Gr. Hosp.
211693 Points Posted on 24 August 2024

Yes, applicable.                    

581 Reply
On 24 August 2024 at 15:17
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"Do the Right Thing...!!!"
128147 Points Posted on 24 August 2024
No. TDS not applicable for the shares purchase.
463 Reply
On 24 August 2024 at 20:50
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865 Points Posted on 26 August 2024
Not Applicable - reason
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On 26 August 2024 at 15:10


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