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of <h1>Section 194Q: Buyers with turnover over Rs 10 crore must deduct 0.1% TDS on goods payments over Rs 50 lakh</h1> Section 194Q requires a buyer whose annual turnover exceeded ten crore rupees in the preceding financial year to deduct tax at source at 0.1% on payments for purchase of goods exceeding Rs.50 lakh in a previous year, at the time of credit or payment, whichever is earlier. Credits to suspense or similar accounts are treated as payment for deduction purposes. The tax authority may issue guidelines, subject to parliamentary laying, to resolve implementation difficulties. The section does not apply where tax is otherwise deductible under the Income-tax Act.
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