ALERT !!!
Deduction U/s 194Q (
tds on purchase of goods) wef 01 07 2021
Wef
01/07/2021, where turnover exceeds 10cr in previous year, tds on purchase of
goods is to be deducted @ 0.1% on purchase amount in excess of Rs. 50 lacs
party wise.
Further
we should continue to collect Tcs if
buyer turnover is less than 10 cr.
Further,
if seller do not give pan number, tds rate is 5%
For
the said purpose please arrange to send enclosed letter to seller as a
intimation regarding applicability of section 194Q