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of <h1>Section 194Q: Buyers Must Deduct Tax at Source for Purchases Over Rs. 50 Lakhs if Turnover Exceeds Rs. 10 Crores.</h1> The buyer is required to deduct tax at source under section 194Q if they are conducting a business and making payments to a resident seller for goods. This obligation applies if the buyer's total sales, gross receipts, or turnover exceed Rs. 10 crores in the financial year preceding the purchase, and the value of goods purchased exceeds Rs. 50 lakhs in any previous year.
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