I am hoping one of the knowledgeable members of the forum can provide clarity on my question in regards to the "Total Amount Paid / Credited" colum for a 194Q transasction on form 26AS.
Let us say, the total transcation was for Rs. 60 lakhs. As per 194Q, the buyer will deduct 0.1% of Rs. 10 lakhs => Rs. 1,000 and report on the the seller's PAN. When this transaction shows up on seller's form 26AS, what would be the value in "Total Amount Paid / Credited" column ? Will that column amount be :
(a) Rs. 60 lakhs or
(b) Rs. 10 lakhs ?
CAclubindia
