Tds reg
KALI DASS (15 Points)
06 September 2021
can we deduct tds 94q on trust ? they are lable supplier
3 Replies
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(182121 Points)
Replied 07 September 2021
Yes, unless any certificate like 'No deduction of Tax' provided by seller through ITD.
CMA Poornima Madhava
(CMA)
(13112 Points)
Replied 07 September 2021
As per CBDT circular, the provisions of section 194Q of the Act shall not apply on purchase of goods from a person, being a seller, who as a person is exempt from income tax under the Act (like person exempt under section 10) or under any other Act passed by the Parliament (Like RBI Act, ADB Act etc.).
So if the income of trust is exempt, then 194Q would not apply.
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