WebWhat is Section 194Q (TDS on Purchase) What is Section 206C (1H) Difference in194Q & 206C(1H)Time Stamp00:00 Intro50:25 Section 194Q (TDS on Purchase)01:... WebJun 21, 2024 · Section 206C (1H) shall not apply if the buyer is liable to deduct TDS under any other provision of this Act on the goods purchased by him from the seller and has …
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WebHello Connections, The Income Tax Dept. Announced TDS rates applicable for AY 2024-25. #tds #tax #rates #announcement #incometax #tdsindia. Lumaktaw papunta sa pangunahing nilalaman LinkedIn. Tuklasin Mga Tao Learning Mga Trabaho Sumali ngayon Mag-sign in Post ni Yash Sharma Yash Sharma Tax Analyst at Ernst & Young ll GST ll … WebApplicable Section 194Q 206C(1H) 194Q Who is liable to deduct TDS/ TCS Buyer Seller Buyer Amount on which tax is to be deducted/ collected 25 lakhs (75 L - 50 L) 5 lakhs (55 L – 50 L) 10 lakhs (60 L – 50 L) Amt of TDS/TCS @0.1% 2500 500 1000 8. What will be implication of payment of outstanding balance as on 30th pickering steam fair 2022
TDS (Section 194Q) vs. TCS (Section 206C(1H)) - TaxGuru
WebJun 11, 2024 · With effect from 1 st October 2024, Government had introduced Section 206C(1H) i.e. a seller having turnover of more than Rs. 10 Crores in the preceding … WebThe TDS has to be deducted only on Rs 10 lakh at the rate of 0.1%. Applicability of Section 194Q Section 194Q of the ITA is applicable from July 1, 2024. So, the TDS has to be deducted only on purchases after July 1, 2024. However, the threshold limit of purchase of Rs 50 lakh has to be taken into account from April 1, 2024. Example WebMay 10, 2024 · The Finance Act 2024 has introduced Section 194Q providing for TDS on purchase of goods with effect from July 1, 2024. Section 194Q is similar to Section … pickering square london