https://www.taxtmi.com/article/detailed?id=9877 TDS u/s 194Q and TCS u/s 206C(1H) apply when taxpayer turnover and per-counterparty transaction thresholds are met, with TDS on buyers taking precedence over TCS on sellers. Parties must monitor aggregate transactions to determine when deduction or collection becomes due, obtain declarations regarding counterparty turnover, treat value inclusive of indirect taxes for threshold purposes, and recognize that imports to non-residents fall outside the TDS provision. Software must be classified as goods or services on facts to decide applicability; purchase returns do not alter the deduction obligation. en-us Wed, 30 Jun 2021 08:23:57 +0530 Wed, 30 Jun 2021 08:23:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=9877 TDS u/s 194Q and TCS u/s 206C(1H) apply when taxpayer turnover and per-counterparty transaction thresholds are met, with TDS on buyers taking precedence over TCS on sellers. Parties must monitor aggregate transactions to determine when deduction or collection becomes due, obtain declarations regarding counterparty turnover, treat value inclusive of indirect taxes for threshold purposes, and recognize that imports to non-residents fall outside the TDS provision. Software must be classified as goods or services on facts to decide applicability; purchase returns do not alter the deduction obligation. Articles Income Tax Wed, 30 Jun 2021 08:23:57 +0530 https://www.taxtmi.com/article/detailed?id=9877