Is there any Tds under income tax on sale of goods ?
194C , 194J, 194I are on sale / supply of services
3 Replies
CA Aakarsh Jain
(CA)
(10431 Points)
Replied 15 March 2022
Refer section 194Q. If your turnover is above 10 crore in preceding previous year then you are liable to deduct tds on the value of purchase of goods exceeding 50 lakhs
Eswar Reddy S
(CFO- at NHTF)
(58270 Points)
Replied 15 March 2022
What if there is a contract for supply of goods ?
CA Puja Sharma
(Chartered Accountant)
(5010 Points)
Replied 15 March 2022
TCS will apply in case of supply of goods.
TDS will apply in case of purchase of goods above a specified limit.
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