Section 194Q I TDS on Purchase of Goods

Author
View profile
Last updated: 11 February 2021
Quick Summary
This guide explains Section 194Q, a crucial change in Indian tax law regarding Tax Deducted at Source (TDS) on the purchase of goods. It details when TDS applies, specifically for buyers making aggregate purchases over Rs. 50 lakhs from a single resident supplier in a financial year, provided the buyer's previous year turnover exceeded Rs. 10 crore. The document clarifies calculation methods, penalties for non-compliance (including a 30% disallowance of purchase value), and situations where TDS is not required. It's an essential resource for businesses and finance professionals navigating this new regulation.

File details
DOCX 32 KB 1 downloads Income Tax
File description
Detail Description about Section 194Q #docx
Download DOCX 32 KB Like
Submitted by · Posted 11 February 2021 · Other files by rajat jain · Report
Comments

Recent Files in Income Tax

View more →
PDF

Revision of Rate of Aadhaar PVC Card Service

13 November 2026 Download
PDF

PAN CR-02: PAN Card Correction Form

12 November 2026 Download
PDF

PAN CR-01: PAN Card Correction Form

12 November 2026 Download
PDF

FAQs on TAN as per IT Act 2025

18 September 2026 Download
PDF

FAQs on Tax Audit as per IT Act 2025

18 September 2026 Download
PDF

FAQs on Agricultural Income (Section 2(5) and Rule 270) as per IT Act 2025

17 September 2026 Download

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Pro Member BHARAT KAPADIABHARAT KAPADIAPro Member Murugan Murugan Pro Member accountingaccountingPro Member CA Bijo scariaCA Bijo scariaPro Member Srijan AgarwalSrijan Agarwal
Subscribe to Pro
Join an elite circle of professionals


Popular Files


  1. GST RET-1 Return: Monthly and Quarterly Filing Formats
  2. CA Final Financial Reporting (FR) Paper New Course Nov 2026
  3. RBI Releases India's Balance of Payments Data for Sept 2026
  4. RBI Announces TCCFM to Review Money, Forex and Government Securities Markets
  5. Monthly Economic Review - Oct 2026
  6. RBI Draft Guidelines on Priority Sector Lending: Consolidation of Instructions
  7. MoSPI Releases October 2026 CPI Data
  8. PAN CR-01: PAN Card Correction Form
  9. Revision of Rate of Aadhaar PVC Card Service
  10. PAN CR-02: PAN Card Correction Form

Latest Job Openings

View all
Company
ARTICLESHIP 07 November 2026
Article Assisstant

DPV & Associates

Chennai

CA Inter

View Details
Company
ARTICLESHIP 25 October 2026
Article Intern (CA Articleship)

Arpan Bohra & Co

Hyderabad

CA Inter

View Details
Company
13 November 2026
Accountant

New Mobile India

Muzaffarpur

B.Com

View Details
Company
Featured ARTICLESHIP 31 October 2026
CA Articleship

apricus india

Navi Mumbai

CA Inter

View Details
Company
12 November 2026
Auditor

Oz Taxation

Vijayawada

Graduate (Any)

View Details
Company
Featured 27 October 2026
semi-qualified CA

Saini Pati Shah & Co LLP, Chartered Accountants

Mumbai

CA Final

View Details
Company
ARTICLESHIP 28 October 2026
Article assistants

Shyam S Gupta and Company

New Delhi

CA Inter

View Details
Company
16 October 2026
CA article trainee

Zerdi & Co. Chartered Accountants

Pune

CA Inter

View Details