https://www.taxtmi.com/manuals?id=1921 Section 194Q requires a buyer meeting the turnover threshold to deduct TDS at 0.1% on purchase payments to a resident seller exceeding the specified annual threshold, with a higher rate if the seller's PAN is not furnished; deduction is made at earlier of credit or payment, and suspense-account credits are treated as payee credits. The section defines buyer by prior-year turnover, excludes transactions subject to other TDS/TCS provisions, and empowers the Board to issue guidelines addressing GST treatment, purchase returns and practical difficulties, with circulars and notifications clarifying exclusions including certain exchange-traded transactions and specified IFSC unit purchases. en-us Wed, 18 Jan 2023 16:55:00 +0530 Tue, 17 Jun 2025 18:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=1921 Section 194Q requires a buyer meeting the turnover threshold to deduct TDS at 0.1% on purchase payments to a resident seller exceeding the specified annual threshold, with a higher rate if the seller's PAN is not furnished; deduction is made at earlier of credit or payment, and suspense-account credits are treated as payee credits. The section defines buyer by prior-year turnover, excludes transactions subject to other TDS/TCS provisions, and empowers the Board to issue guidelines addressing GST treatment, purchase returns and practical difficulties, with circulars and notifications clarifying exclusions including certain exchange-traded transactions and specified IFSC unit purchases. Manuals Income Tax Wed, 18 Jan 2023 16:55:00 +0530 https://www.taxtmi.com/manuals?id=1921