TDS 194Q Eligible?

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23 Points Posted on 05 June 2023
If my supplier turnover is above 10 cr and my turnover is below 10 cr.

Is it eligible to deduct TDS 0.1% for my supplier?

Anybody please suggest
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On 05 June 2023 at 23:55 Report
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This discussion clarifies the eligibility for deducting TDS under section 194Q. The key point is that the 'buyer' is defined as a person whose total turnover exceeded INR 10 Crores in the preceding financial year. Therefore, even if your supplier's turnover is above 10 Cr, if your own turnover is below this threshold, you are not eligible to deduct TDS at the 0.1% rate.

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SEO Sai Gr. Hosp.
212460 Points Posted on 06 June 2023

No.

As per explanation to section 194Q, the term ‘buyer’ means -- A person having total sales/ gross receipts/ turnover exceeding INR 10 Crores in the immediately preceding Financial Year in which the specified purchase of goods took place.

 

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On 06 June 2023 at 09:37
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SEO Sai Gr. Hosp.
212460 Points Posted on 09 June 2023

Sorry, I am not a featured member...

for featured member contact..

https://www.caclubindia.com/catalogue/featured.asp

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On 09 June 2023 at 15:31

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