194Q TDS on Purchases turnover

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ARCHANA (Querist)
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26 July 2023 Sir/Mam,

one company turnover crossed 31-03-2023 10 crores, when 194Q TDS applicable this fy or last fy

1) if any purchased crossed last fy 2022-23, 50 Lakhs and payment paying in this year we have to deduct tds u/s.194Q @ 0.1% or not, please clarify

2) in this FY 2023-24 we have to deduct TDS U/s.194Q 0.1% if any purchased crossed 50 Lakhs or below.

3) If Our sales crossed 50 Lakhs what we have to deduct TCS or TDS

Plz clarify all my doubts.

Thanking you,

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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27 July 2023 Any buyer sales crossed last year, 194q tds applicable.
For any purchase from a seller exceeding 50 lacs TDS of 0 .1% applicable on sale in excess of 50 lacs.