19C vs 194Q
Eswar Reddy S (CFO- at NHTF) (58270 Points)
28 March 2022
Is 194C covers contract for supply of goods ?
12 Replies
Eswar Reddy S
(CFO- at NHTF)
(58270 Points)
Replied 28 March 2022
If goods are part of works contract ?
CA Puja Sharma
(Chartered Accountant)
(5010 Points)
Replied 28 March 2022
If goods are part of work contarct then its is composite contract and will come under 194C.
Eswar Reddy S
(CFO- at NHTF)
(58270 Points)
Replied 28 March 2022
If the contract is only for supply goods and value is 1 crore ?
CA Puja Sharma
(Chartered Accountant)
(5010 Points)
Replied 29 March 2022
In my opinion, it will again treated as a contract and TDS to be deducted u/s 194C.
Contract for supply of goods should be treated differently from supply of goods as normal sale.
CA Puja Sharma
(Chartered Accountant)
(5010 Points)
Replied 29 March 2022
If it would have been sale of goods without any contract agreement then like contract agreement executed after tendering etc. then TDS to be deducted u/s 194Q
Eswar Reddy S
(CFO- at NHTF)
(58270 Points)
Replied 29 March 2022
If there is contract for sale of goods ?
Is it 194C or 194Q ?
Is it 194C or 194Q ?
Manjula
(Accountant )
(119 Points)
Replied 30 March 2022
Ofcourse it is 194Q purchase of goods.. contract is like PO it's price contract right.
Eswar Reddy S
(CFO- at NHTF)
(58270 Points)
Replied 30 March 2022
If there is contract for supply of goods then it is 194Q only right ?
CA Puja Sharma
(Chartered Accountant)
(5010 Points)
Replied 30 March 2022
No, if the contract for the supply of goods exists then 194C.
If there is no such prior written contract with pricing and timelines like in tenders then TDS u/s 194Q.
Eswar Reddy S
(CFO- at NHTF)
(58270 Points)
Replied 30 March 2022
Whether 194C is applicable for contract for sale of goods ?
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