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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 the treatment of purchase returns while deducting tax under section 194Q? |
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Ans. Where the seller has refunded the money against the purchase return, the tax deducted may be adjusted against the next purchase against the same seller. However, where the purchase return is replaced by the goods, no adjustment is required. |
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