Easy Office
LCI Learning

TDS deducted for transaction value more than Rs 50.00 lakh

This query is : Resolved 
Profile Image

Profile Image

(Querist)
11 April 2023 Dear Experts,

01. Suppose as a buyer, we need to deduct TDS U/s 194Q for the purchase more than Rs 50.00 Lakhs.

02. Whether do we need to consider this threshold limit for every year

03.Example :
For FY 2022-23,,
TDS deducted for transaction value more than Rs 50.00 lakhs.

For FY 2023-24,
TDS to be ducted from Rs 1.00 onwards or after reaching the value of more than Rs 50.00 Lakhs.

Pl clarify
Profile Image

Dhirajlal Rambhia

Profile Image

Dhirajlal Rambhia (Expert)
11 April 2023 The limit is for each year. You need to deduct TDS only after crossing the exempted limit of Rs. 50 lakhs for each FY.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


CCI Pro
Live Budget News and Updates

Trending Online Classes

view all classess


Answer Query



Quick Links