WebJul 9, 2024 · TDS on advance It is requested to clarify if the provisions of section 194Q of the Act shall apply to advance payment made by the buyer. It is clarified that since the … WebAug 12, 2024 · Electricity department is challenging how you will deduct TDS u/s 194Q, Because we are issuing electricity bill on individual name (building owner name) but not on company name and electricity bill per year is below 5000000 on individual name. Thanks & Regards, Bheema Reddy. CA R SEETHARAMAN (Expert) Follow
Buyer to deduct TDS on Purchase of Goods from Resident Seller
WebApr 19, 2024 · There has been no amendment to section 194K by Finance Act, 2024 so as to require deduction of TDS by Mutual Fund on deduction of units. Therefore, it appears that … Webdeducted under section 194Q of the Act on the amount credited without including such VAT/Excise duty/Sales tax/CST, as the case may be. However, if the tax is deducted on … how tall is 5\u002711 ft in cm
Tax Alert: Clarifications on Section 194Q-TDS on Purchase of …
WebJul 9, 2024 · BGSS & Associates Changing TDS landscape 4 Changing Role of TDS/TCS provisions: Collection of tax at transaction level to contribute to government exchequer (e.g. 194J, 194C, section 194D) Ensure tax is collected at point of receipt so that taxpayer is not saddled with tax after receipt of income (e.g. salary income) Reporting of high value … WebMay 8, 2024 · TDS U/S 194 Q ON ELECTRICITY Contents Dear All, My client company is an owner of factory premises, electricity connection is in the name of owner company. It has leased the premises to another company who is directly paying the electricity charges to the electricity supplier. WebJun 21, 2024 · (1) Any person, being a buyer who is responsible for paying any sum to any resident (hereafter in this section referred to as the seller) for purchase of any goods of the value or aggregate of such value exceeding fifty lakh rupees in any previous year, shall, at the time of credit of such sum to the account of the seller or at the time of … how tall is 5\u0027 10 in inches