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TDS u/s 194Q on material value ofRs.4900000 and Invoice value of Rs.5782000

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53 Points Posted on 31 May 2022
Dear Experts,

We have purchased material from our supplier
Invoice value is Rs.5782000
Material value is Rs.4900000
My question is do we need to deduct TDS u/s 194Q and on which amount
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On 31 May 2022 at 13:23 Report
Replies (3)
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243 Points Posted on 31 May 2022
Yes! on 5782000
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On 31 May 2022 at 13:53
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790 Points Posted on 31 May 2022
In the above query, if the difference amount of Rs. 882000 is GST component, then TDS is not required to be deducted.

If the GST portion is not mentioned in the invoice, then the TDS to be deducted will be 0.1% of amount exceeding Rs. 50 lakhs. i.e. 782000*0.1%= Rs. 782.
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On 31 May 2022 at 18:52
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582 Points Posted on 31 May 2022
Tds is not applicable because Taxable value is below Threshold limit Rs.5000000....
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On 31 May 2022 at 19:09


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