Comparison of TDS and TDS on Goods Sale u/s 194Q & 206C(1H)

Last updated: 22 June 2021

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This document provides a detailed comparison of TDS under Section 194Q and TCS under Section 206C(1H) of the Income Tax Act, focusing on the sale of goods. It clarifies the applicability, thresholds, and rates for both buyers and sellers, especially after the Finance Act 2021 introduced these provisions. The guide is useful for businesses and individuals needing to understand their tax obligations regarding goods transactions exceeding specific limits.

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A New Section 194Q was introduced providing TDS on purchases of goods by certain buyers although a similar provision of TCS on sale of goods was introduced last year. #pdf

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Submitted by Mera Consultant · Posted 22 June 2021 · Other files by Mera Consultant · Report

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