Is there any Tds under income tax on sale of goods ?
194C , 194J, 194I are on sale / supply of services
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Tds on goods sold
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Refer section 194Q. If your turnover is above 10 crore in preceding previous year then you are liable to deduct tds on the value of purchase of goods exceeding 50 lakhs
What if there is a contract for supply of goods ?
TCS will apply in case of supply of goods.
TDS will apply in case of purchase of goods above a specified limit.
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