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Applicability of TDS u/s 194Q on purchase of Vehicle

Eldhojo Paul (Practice) (3 Points)

07 June 2022

Is TDS under section 194Q applicable on purchase of Assets (eg: car) above the threshold limit?

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4 Replies

Kesavaraj S (578 Points)
Replied 07 June 2022

No...TDS U/s 194Q is not applicable because the seller has to charge TCS U/s 206C(1F) if selling value is above Rs.10,00,000/-

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Sanju Sharma (17 Points)
Replied 08 June 2022

If car value is less than 10 lacs, then 194q applicable. tds has to be deducte.

Shaikh Firoz (37 Points)
Replied 08 June 2022

First we will have to read both the section that is 194Q and 206C(1F)
it both the section applicable in one scenario then section 206C(1F) will prevail
For car purchase 206C(1F) is APPLIED

sundram s (AUDITOR) (2 Points)
Replied 29 February 2024

No...TDS U/s 194Q is not applicable because the seller has to charge TCS U/s 206C(1F) .

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