One of my client is running a petrol pump business. they bought petrol worth Rs. 12 crore during F.Y 2020-21 from Indian Oil Corporation Limited .. is there a requirement to deduct TDS u/s 194Q?
Tds liability arises only when your turnover exceeds rs. 10 crores during the f. y. 2019-20..if yes, then you are required to deduct TDS under section 194Q
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