I am liable for TDS Deduction I received first purchase bill from vendor.
Taxable value 48 lakh
GST. 2.4 lakh
total 50.40 lakh
whether I will deduct TDS 194 q ?
6 Replies
CA Rashmi Gandhi
(Chartered Accountant)
(86323 Points)
Replied 05 July 2022
No as total taxable value is below 50 lakhs
CA Rashmi Gandhi
(Chartered Accountant)
(86323 Points)
Replied 08 July 2022
Not at all TDS applicable on taxable value not invoice value
Rahul Garg
( )
(25 Points)
Replied 08 July 2022
CA Rashmi Gandhi mam aise do hi sections hai 194q and 206C (1H) jisme TDS/TCS deduction total amount par hogi na ki taxable value par. Correct me, if i am wrong.
CA Puja Sharma
(Chartered Accountant)
(5010 Points)
Replied 08 July 2022
TDS will be deducted on taxable value.
So no need to deduct the TDS.
CA Rashmi Gandhi
(Chartered Accountant)
(86323 Points)
Replied 08 July 2022
TDS on taxable value and TCS on total amount. Circular already issued.
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