Regarding Sec 194 Q of Income Tax

Respect all,

I have a query regarding section 194 Q of Income Tax

I have purchased goods from My suppliers is Rs.70/- Lakhs exclueding gst for the period from April 21 to Jun 21 that is over Rs.50/- Lakhs & We have a purchased good of Rs.10/- Lakhs from him in Jul 21

Now on which amount we have to deduct TDS on Rs.10/-Lakhs or Rs.30/- Lakhs ( Rs.70 Lakhs - 50 Lakhs = Rs.20 Lakhs + Rs.10 Lakhs )

Replies (3)
Quick Summary
This discussion clarifies the application of Section 194Q of the Income Tax Act regarding TDS on the purchase of goods. The key question is when TDS should be deducted if the total purchase value exceeds the Rs. 50 Lakh threshold within a financial year. The consensus is that TDS under Section 194Q is applicable from 1st July 2021 onwards, meaning deductions are based on purchases made from that date, specifically on the amount exceeding the threshold.

TDS should be deducted at the amount above 50 lakhs rupees on the whole amount
TDS to be deducted on 10 lakh, as provisions of section 194Q is applicable from 1st july 2021 onwards

thank you .

Thats what I want to confirm

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured ARTICLESHIP 28 October 2026
CA- Inter and Articles

N N V Satish & Co.,

Hyderabad

CA Inter

View Details
Company
14 October 2026
Asst. Manager/Dy Manager (Costing)

manufacturing

Pune

CMA

View Details
Company
ARTICLESHIP 08 October 2026
ARTICLE TRAINEE

S.B.G. & CO. CHARTERED ACCOUNTANTS

New Delhi

CA Inter

View Details
Company
24 October 2026
CA Industrial Trainee

Fytomax Nutrition Private Limited

Aurangabad

CA Inter

View Details
Company
Featured 29 October 2026
Accounts Executive

Synergy Keystone

Chennai

B.Com

View Details
Company
06 October 2026
Assistant Manager - Audit and Compliance

Ravi K Jain & Co

Noida

Others

View Details
Company
ARTICLESHIP 07 October 2026
Article Trainee/ CMA Trainee

RMA And Associates LLP

New Delhi

CA Inter

View Details
Company
19 October 2026
Accountant

Jari Saree Center

New Delhi

Others

View Details