Who is required to deduct tax at source under section 194Q?

Ans. The buyer, who is responsible to make payment to a resident seller, is required to deduct tax at source under section 194Q if the following conditions are satisfied:

a) He is carrying on a business;

b) He is paying any sum to a resident person for the purchase of any goods;

c) Total sales, gross receipts or turnover from the business exceeds Rs. 10 crores during the financial year immediately preceding the financial year in which such goods are purchased; and

d) Goods are purchased for a value or aggregate of value exceeding Rs. 50 lakhs in any previous year​