About this document

TDS Deduction Notice Under Section 194Q by Vijay Bohara is a document available to read on EtoBox.

This document informs suppliers about the new TDS requirements under section 194Q of the Income Tax Act, effective from July 1, 2021, which applies to buyers with sales exceeding INR 10 crores. The TDS rate is 0.1% if the supplier has a PAN, otherwise it is 5%, and it is applicable on purchases exceeding INR 50 lakhs. The sender will deduct TDS on purchases and requests suppliers not to collect TCS under section 206C(1H).

Author

Vijay Bohara

Language

EN