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TDS SEC 194Q

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Shubham

Accountant

36 Points Posted on 22 November 2021

In case a seller having turnover morethan 10 cr in FY 2020-21 , so what would be the TDS rate if seller don't have last 2nd year ITR , have only last year ITR to share the buyer? 0.1% or 5%

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Quick Summary

This discussion clarifies the TDS rate applicable under Section 194Q for sellers whose FY 2020-21 turnover exceeded 10 crore but who only have the last year's Income Tax Return (ITR) to provide. The consensus is that the 0.1% TDS rate applies in such scenarios. The user is seeking official government circulars or notifications to confirm this.