TDS@0.1

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31 Points Posted on 01 July 2021
If as a buyer our turn over above 10crore. and seller turnover below 10cr. can we deducted tds-0.1% from the invoices while making payment.
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On 01 July 2021 at 19:33 Report
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This discussion clarifies the rules for deducting Tax Deducted at Source (TDS) at 0.1% under Section 194Q. If your business turnover as a buyer exceeds ₹10 crore and you purchase goods exceeding ₹50 lakh from a seller, you are required to deduct TDS. This deduction should be made at the time of crediting the payment or making the actual payment, whichever occurs first.

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Tax consultant
552 Points Posted on 01 July 2021
Yes.buyer to deduct tds for purchase over 50 lakhs.from the seller.
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On 01 July 2021 at 20:38
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CMA
13117 Points Posted on 01 July 2021

Yes, you have to deduct tax at source u/s 194Q at the time of credit or payment, whichever is earlier.

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On 01 July 2021 at 20:42

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