Tds under section 194 q for py 2022-2023

when should tds be deducted under section 194 Q against purchases made in p.y 2022-2023 whether at the time when amt exceed 50lakh during p y 2022-23 or from 1st april 2022?(in 21-22 purchases exceeds threshold limit from that same party )
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Quick Summary
This discussion clarifies the timing for TDS deduction under Section 194Q for the financial year 2022-2023. The consensus is that TDS applies when the total purchase amount from a single party exceeds £50 lakh within the financial year. Deductions are made on the amount exceeding this threshold, not from the start of the financial year if the limit was met in the previous year.

At the time when amount exceed 50 Lakh
Per year person 50lacs limit.

Tds will be on the amount in excess of 50lacs

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