TDS U/194Q, Income Tax

[NAMAN DOKANIA]

Will TDS u/s 194Q be deducted by purchaser if seller is not charging TCS as buyer has produced Form 27C to the seller.

Posts / Replies

[DR.MARIAPPAN GOVINDARAJAN]

Whether the purchase is a manufacturer or trader?

[NAMAN DOKANIA]

Purchaser if Manufacturer, and he is purchasing Coal

[DR.MARIAPPAN GOVINDARAJAN]

No TCS is required to be done for coal if Form 27C is filed.

If your income is exempted then no deduction is required under section 194Q; otherwise you

have to deduct if the threshold limit of your aggregate purchase value exceeds ₹ 50 lakhs.