04 July 2021
please explain the applicability of sec 194Q in case of newly started business during the FY 2021-22 and the turnover exceeds 10 cr and purchase from a single person is more than 50 lakhs.
04 July 2021
194Q would not apply in case of new business established during FY21-22. If the turnover would exceed Rs.10cr during FY21-22, then 194Q would apply for FY22-23.
CAclubindia
