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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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How to deal with a transaction which is covered both under section 194Q as well as section 206C(1H)? |
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Ans. If a transaction is subject to TDS under Section 194Q, the buyer shall have the first obligation to deduct the tax. If he does so, the seller will not have any obligation to collect the tax under Section 206C(1H). |
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