TDS on payment of a certain sum for purchase of Goods - New Section 194Q inserted by The Finance Bill Budget 2021-22
Particulars |
Scenario-1 |
Scenario-2 |
Scenario-3 |
Turnover of Seller (In Cr.) |
12 |
6 |
12 |
Turnover of Buyer (In Cr.) |
6 |
12 |
12 |
Sale of Goods (In Cr.) |
2 |
2 |
2 |
Sales Consideration paid during the year (In Cr.) |
1 |
1 |
1 |
Who is liable to deduct or collect tax? |
Seller |
Buyer |
Buyer |
Rate of Tax |
0.1% |
0.1% |
0.1% |
Amount on which tax to be deducted or collected (In Cr.) |
0.5 |
1.5 |
1.5 |
Tax to be deducted or collected |
5,000/- |
15,000/- |
15,000/- |