Tds in sec 194Q is deducted on taxable value or invoice value?

ɢᴀɴᴇsʜ · 21 May 2024

If a buyer purchases goods worth Rs 80 lakh from a seller, then he has to deduct the first Rs 50 lakh from it as an initial deduction under Section 194Q and then deduct the TDS on the remaining Rs 30 lakh at 0.1%. So, the TDS applicable in this case would be Rs 3,000.

Kaushal · 21 May 2024

Tds on taxable value .. and tcs tk be deposited on invoice value

Shiva · 21 May 2024

For any TDS, it will be deducted on taxable value not on invoice value

Zainab · 21 May 2024

U/s 194Q TDS is deducted on invoice value of purchase @ 0.1%