TDS deduction from purchaser compulsory or not?
TDS deduction from purchaser compulsory or not?
ABHIJIT MANNA (ACCOUNTANT) (447 Points)
17 August 2021
5 Replies
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 17 August 2021
Elaborate your query
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
Agree with above comment
Recent Topics
- CLAIMING OF U CLAIMED RCM
- Building construction works
- REGARDING GSTR-9 F.Y 2023-24
- Rectification to decrease income in SCHEDULE OS
- Can Statutory Auditor of a subsidiary become concu
- Client Asking for the Revised Invoice
- Share office desk in bkc, near family court
- 80D claim for payment paid by parent
- TDS on purchase of Flat under subvention scheme be
- GST registration for medical shop in Karnataka
Related Threads
CAclubindia
