TDS on Purchase of Goods u/s 194Q
14 May
In the Budget 2021-22, a new section 194Q introduced which will be affected from 1st July 2021.
This circular explains What is section 194Q, Time of Deduction of TDS under Section 194Q, Exception to TDS Deduction under Section 194Q, TDS Rate under Section 194Q of Income Tax Act, 1961, Non-compliance of section 194Q, How to ensure compliance of section 194Q, Pros and Cons of this new section 194Q and Applicability of section 194Q.
Source: Income-tax Guidelines
