CA Saurabh Avasthi (29 Points)
17 July 2021
Balamurali Unnithan MS
(STUDENT)
(1631 Points)
Replied 17 July 2021
CMA Poornima Madhava
(CMA)
(13112 Points)
Replied 17 July 2021
If the turnover during the preceding year is >10cr, then tax to be deducted at source u/s 194q on purchase of any good including stationery once the threshold limit of ₹50 lacs is reached.
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 17 July 2021
Balamurali Unnithan MS
(STUDENT)
(1631 Points)
Replied 17 July 2021
Then check the 2nd condition, Ji.
Turnover from April to June - Exceeds Rs 50 Lakhs (Excluding GST) or Not.
The 2nd condition is also applicable, 194 Q is also in practical.
CAclubindia
