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TDS -194Q -Payment for purchase of goods
TDS on 194C not applicable for material value of contract. in that case for material value 194Q is applicable or not?
Replies (23)
Quick Summary
Yes, if the conditions of 194Q met.
Yes, if the purchase value exceeds 50 lakhs and your turnover exceeds 10cr. in the previous year, then u need to deduct tds under 194Q
Tds compliance is getting tough!!
dual deduction on a single contract.
dual deduction on a single contract.
What do you mean by dual deduction sir? Can u tell us an example regarding
I meant that this person must deduct tds under two sections, under 194c and 194q.
this case itself is a good example.
this case itself is a good example.
Sir, but there is an exception regarding that in 194q..na..if tds is required to be deducted under any other section then there is no need to deduct tds under 194q.
Yes surekha Ji you are right, that there will be no double deduction on a Same Exp.
But here there is two components to a single contract. if we look at the components separately then dual deduction may apply
No Double deduction, as 194Q is on a purchase of goods.
Ankit you are not getting what i am saying.
in a single contract/transaction two sections are into play 194c and 194q. nevertheless two different amounts are being subjected to tds.
i have only said dual deduction and not double deduction.
i agree that there is no double deduction.
i am only saying there is dual deduction.
in a single contract/transaction two sections are into play 194c and 194q. nevertheless two different amounts are being subjected to tds.
i have only said dual deduction and not double deduction.
i agree that there is no double deduction.
i am only saying there is dual deduction.
Please explain with example.
This case itself is a good example
I am asking you to give the practical example with values
Ankit You are write there is no double deduction, if there is bill of material that also has a freight charges, then 194Q is for material and 194C is for freight Charges.
No Double deduction.
No Double deduction.
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