TaxTMI 
TaxTMI 
Will TDS u/s 194Q be deducted by purchaser if seller is not charging TCS as buyer has produced Form 27C to the seller.
TDS U/194Q
17 Jul 2021 
3 Replies 
4054 Views Asked by
TDS under section 194Q may apply even if seller files Form 27C unless purchaser is exempt or threshold exceeded.
Where a seller furnishes Form 27C, the seller need not collect TCS on coal sales. Independently, a purchaser must deduct TDS under section 194Q if the purchaser's income is not exempt and the purchaser's aggregate purchases exceed the statutory threshold; this obligation applies even when the seller has not charged TCS. (AI Summary)
Where a seller furnishes Form 27C, the seller need not collect TCS on coal sales. Independently, a purchaser must deduct TDS under section 194Q if the purchaser's income is not exempt and the purchaser's aggregate purchases exceed the statutory threshold; this obligation applies even when the seller has not charged TCS. (AI Summary)