TDS deduction from purchaser compulsory or not?
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TDS deduction from purchaser compulsory or not?
Replies (5)
Elaborate your query
If I purchased goods from supplier , so TDS will be deducted or not ?
TDS on purchase will applicable only 10Crs of T/o and transaction value of above Rs 50L . TDS will be 0.10% w.e.f 01.04.2021
TDS will be deducted U/s194Q, T/o must exceeds Rs10Cr and Upto50L- There is no tds on goods purchased from seller. Buyer has to deduct TDS and pay to the Govt on subsequent month on or before 7th. Once T/O limit has been exceeding during the PY, we need to deduct TDS.
Agree with above comment
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