Regarding tds on scrap
This query is : Resolved
Suresh S. Tejwani
(Querist)
06 July 2022
Mr. A sale scrap to Mr. B who use these scrap for manufacturing process and provide Form-27c to Mr. A. In these case Mr. A not liable to collect tcs under section 206CE then Mr. B (buyer) is liable to deduct tds under section 94Q if purchase from Mr. A is more than 50lakhs or not ?
Dhirajlal Rambhia
(Expert)
07 July 2022
Yes, both the sections are independent, if Mr. B qualifies for deduction u/s. 194Q.
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