If a company trades in milk and it purchase more than 50 lakh milk from an LLP firm which is tax free, the company has to deduct it within its TDS Section 194Q.
All purchase are exempt
Thanks Experts
Menu
Tax free item deal in section 194Q
Replies (4)
Quick Summary
For the purpose of calculating the threshold limit for TDS U/s 194Q only Taxable value is to be considered irrespective of whether Taxable in Gst or Exempted.So,TDS U/s 194Q is applicable.
You have to deduct TDS whether purchase is taxable or tax free
Thanks
Welcome.... My pleasure .....o
Recent Topics :
- FAI & FAST-DS 2026 query
- Is GST registration mandatory in this case
- Buying a residential flat in Goa: should my wife b
- Income tax filling
- Applicability of RCM in the case of import of serv
- Confusion in gst registration for service category
- Itc claimed from return defaulters
- Gst input credit
- CAN PARTNERSHIP FIRM SIGN SERVICE AGGREMENT WITH A
- E-waybill
Related Topics :
CAclubindia
