Tax Deducted at Source (TDS)

  • What consequences when deductor fails to deduct TDS.new

    Consequences when deductor fails to deduct TDS-Disallowance of expenditure in hand of deductor if fails to deduct TDS. 1. Disallowance of expenditure in hand of deductor if fails to deduct TDS. 2.Levy of interest in hand of deductor if fails to deduct TDS.

  • Compliance of TDS under section 194Q & TCS under section 206C(1H)

    TDS under section 194Q & TCS under section 206C(1H) FAQs and section wise analysis.FAQ 1. Which person will be liable to deduct TDS under section 194Q. FAQ 2. Date of applicable of provision of section 194Q. FAQ 3. Person to whom Section 194Q is applicable. FAQ 4. Who is liable to collect TCS u/s 206(1H)

  • TDS under Section 194Q of the Income-tax Act - Guidelines and FAQs

    Finance Act, 2021 inserted a new section 194Q in the Income-tax Act 1961  which takes effect from 1st day of July, 2021. Section 194Q applies to (A) A buyer who is responsible for paying any sum to any resident seller for purchase of any goods. (B) Where the value or aggregate of value of goods exceeding fifty lakh rupees in any previous year.