194Q APPLICABILITY
This query is : Resolved
26 June 2021
Dear Friends,
we are a company having 50+ crore business turn over
Do we have to Deduct TDS with effect from 01.07.2021, for any material purhcase from small vendors like stationery, office maintenance and others
we are a company having 50+ crore business turn over
Do we have to Deduct TDS with effect from 01.07.2021, for any material purhcase from small vendors like stationery, office maintenance and others
26 June 2021
I think you may have to deduct if total purchase (of any goods) from such vendor exceeds Rs.50 lacs in a year, provided TDS on the same is not applicable under other provisions of IT Act.
For example, in respect of maintenance, where TDS would be applicable as per section 194C, no need to deduct tax again u/s 194Q.
Also 194Q is related to goods (not services)
For example, in respect of maintenance, where TDS would be applicable as per section 194C, no need to deduct tax again u/s 194Q.
Also 194Q is related to goods (not services)
03 July 2021
Thank you for your reply
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Manual Rectification through AO
- IT Return filed defective u/s 139 (9)
- Fixed Deposit Claim Relinquishment by the Nominee
- Defective Return - Tds on advance
- ITR 6 Schedule CFL and UD Issues
- Not a CA , can we prepare balance sheet
- FREELANCING ACCOUNTANT
- TDS RATE ON RENT PAID TO NRI
- Income Type for interest from government bonds
- TCS ON SOFTWARE SALES
- PAYMENT TO OPEN AI AND ENVATO ELEMENT
- From 15CA for remittance by domestic travel agent by to Foreign Destination Management Company.
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding Resignation by Auditor from Pvt. Ltd.
Trending Online Classes
CAclubindia
