TDS On Purchase Of Goods Exceeding 50 Lakhs | 194Q Of Income Tax Act
Applicability: a person, being a buyer who is liable for paying any sum to any seller (being a resident) for purchase of any goods (including capital goods), where the worth or aggregate of such values, exceeds ₹50 lakhs in any fiscal year, shall deduct TDS. Effective from 1st July 2021.
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