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Sale of goods act

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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 ?
Replies (5)

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


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.

Yes, applicable.                    

No. TDS not applicable for the shares purchase.
Not Applicable - reason


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