TDS u/s 194Q and TCS 206C(1H)

Deepak Tapse (Accounts Manager - Taxation)   (1771 Points)

05 April 2023  

For the FY 2023–24, TDS is to be deducted on the entire amount of the purchase of goods or on an amount exceeding Rs. 50 lakhs.


Example: The total amount of purchase goods would be Rs. 1 crore, and TDS is to be deducted on either Rs. 1 crore or Rs. 50 lakhs.

Same for TCS u/s 206C(1H)