Duty of tds on purchase
This query is : Resolved
24 June 2021
dear sir, tds on purchase is applicable from 1.7.2021 if seller charge tcs still i have to pay tds?
25 June 2021
Ask the seller to stop TCS and deduct TDS if applicable.
25 June 2021
Seller, if applicable, will collect tax at source up to 30th June and from 1st July, the purchaser has to start deducting tax at source, if applicable.
The seller is not required to again collect tax on transactions on which tax has been deducted by the buyer u/s 194Q w.e.f. 1st July.
The seller is not required to again collect tax on transactions on which tax has been deducted by the buyer u/s 194Q w.e.f. 1st July.
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