WebMar 4, 2024 · TDS Under GST: Provisions, TDS Rate real Registration. March 4, 2024 9 min read 9 min read WebJul 5, 2024 · Therefore, for calculation of threshold for triggering TDS compliance under section 194Q shall be done from 1 April 2024. If a person, being buyer has already credited or paid INR 5 Million lacs or more up to 30 June 2024 to a seller, TDS under section 194Q shall apply on all credits or payments , on or after 1 July 2024, to such seller.
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WebJun 30, 2024 · It is clarified that under section 194Q of the Act a buyer is required to have total sales or gross receipts or turnover from the business carried on by him exceeding ten crore rupees during the financial year immediately preceding the financial year in which the purchase of goods is carried out. WebJul 5, 2024 · This new section 194Q has given rise to the question “Whether TCS u/s 206C (1H) of Income Tax is to be collected on receipt of sales consideration above 50 Lakhs or … how do we form the present progressive
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WebHome - Central Board of Direct Taxes, Government of India WebApr 11, 2024 · CBDT, vide Circular No. 4/2024 dated 05.04.2024, issues clarification regarding employer’s TDS liability on salary in the light of new default personal tax regime introduced by the Finance Act, 2024 under Section 115BAC (1A); CBDT directs that an employer, shall seek information from each of its employees having income under Section … WebJun 30, 2024 · Section 194Q provides that every buyer who is responsible for paying any sum to a resident seller, for purchase of any goods of the value or aggregate of value exceeding Rs 50 lakh rupees in any previous year, shall at the time of credit of such sum to the account of the seller or at the time of payment, whichever is earlier, deduct an amount … howard cosell age