194Q new section
This query is : Resolved
02 July 2021
Dear Sir,
Please clear the doubt of
purchase value inc.gst is more than 50lakh from all vendor or from one particular vendor.For applicability for deduction under section 194Q
Please clear the doubt of
purchase value inc.gst is more than 50lakh from all vendor or from one particular vendor.For applicability for deduction under section 194Q
02 July 2021
For the purpose of section 194Q, Rs.50lacs threshold criteria needs to be checked for each supplier separately and not aggregate value of purchases from all supplier.
06 July 2021
its not for all vendor if Purchase Exceeds from Single Vendor than 194Q applicable tax to be deducted Excess of fifty lakh please refer criteria in my share file https://www.caclubindia.com/share_files/new-tds-rule-206ab-and-206cca-and-194q-01-07-21-81371.asp#:~:text=TDS%20applicable%20TDS%20206AB%20and%20206CCA%20and%20194Q%20%23pdf
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