TDS on purchase of goods: buyer must deduct at source where business turnover and purchase value thresholds are exceeded. Under section 194Q, the buyer must deduct tax at source when he is carrying on a business, pays any sum to a resident person for purchase of goods, the ... Summary
TDS on purchase of goods: buyer must deduct at source where business turnover and purchase value thresholds are exceeded.
Under section 194Q, the buyer must deduct tax at source when he is carrying on a business, pays any sum to a resident person for purchase of goods, the buyer's business exceeds the prescribed turnover threshold in the preceding financial year, and purchases from the seller in a previous year exceed the prescribed purchase-value threshold.
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