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Income Tax - Frequently Asked Questions (FAQs) |
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FAQs on TDS or TCS on sale or purchase of goods |
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What is Section 194Q of the Income-tax Act? |
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Ans. Section 194Q of the Income-tax Act deals with the deduction of tax at source (TDS) on the payment of any sum to a resident for the purchase of any goods. The tax shall be deducted at the time of credit or payment, whichever is earlier. |
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