TDS deduction from purchaser compulsory or not?
TDS deduction from purchaser compulsory or not?
ABHIJIT MANNA (ACCOUNTANT) (447 Points)
17 August 2021
ABHIJIT MANNA (ACCOUNTANT) (447 Points)
17 August 2021TDS deduction from purchaser compulsory or not?
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 17 August 2021
ABHIJIT MANNA
(ACCOUNTANT)
(447 Points)
Replied 17 August 2021
If I purchased goods from supplier , so TDS will be deducted or not ?
S JEEVARETHINAM
(Sr Manager Finance and Taxation)
(137 Points)
Replied 17 August 2021
TDS on purchase will applicable only 10Crs of T/o and transaction value of above Rs 50L . TDS will be 0.10% w.e.f 01.04.2021
S JEEVARETHINAM
(Sr Manager Finance and Taxation)
(137 Points)
Replied 17 August 2021
TDS will be deducted U/s194Q, T/o must exceeds Rs10Cr and Upto50L- There is no tds on goods purchased from seller. Buyer has to deduct TDS and pay to the Govt on subsequent month on or before 7th. Once T/O limit has been exceeding during the PY, we need to deduct TDS.
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 18 August 2021
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