194Q section.
SUMIT BADYAL (709 Points)
14 July 2021
hi, if the company turnover is less than 10 crore but the purchase from one party exceeds 50 lakh, is this case 194Q applicable or not.
SUMIT BADYAL (709 Points)
14 July 2021
CMA Poornima Madhava
(CMA)
(13112 Points)
Replied 14 July 2021
If the turnover of the buyer in the immediately preceding year is up to Rs.10cr, then 194Q is not applicable, even if the purchase from a vendor >50lacs.
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 14 July 2021
Sateesh Kumar
(199 Points)
Replied 14 July 2021
Balamurali Unnithan MS
(STUDENT)
(1631 Points)
Replied 14 July 2021
SUMIT BADYAL
(709 Points)
Replied 14 July 2021
CMA Poornima Madhava
(CMA)
(13112 Points)
Replied 14 July 2021
Balamurali Unnithan MS
(STUDENT)
(1631 Points)
Replied 15 July 2021
50 Lakhs -Purchase
10 Crores -Sales
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