Regading 194Q - We are running Petrol Pump & Transportation Services / Rental Receipts where our Turnover Exceed Rs. 10.00 Cr. Presently TCs is added to our Purchase Bill - Whether 194Q is applicable/liable to us.
Anil M (Accountant Officer) (23 Points)
01 July 2021Regading 194Q - We are running Petrol Pump & Transportation Services / Rental Receipts where our Turnover Exceed Rs. 10.00 Cr. Presently TCs is added to our Purchase Bill - Whether 194Q is applicable/liable to us.
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 02 July 2021
TCS is applicable everywhere. It is a matter of understanding who collects and who gets pays. It’s nice to see Microsoft is also tax blogging: https://support.microsoft.com/en-us/topic/tds-on-purchase-of-goods-under-section-194q
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