Income tax · buyer TDS
Internal audit copy names section 194Q for purchases above the notified limit. Turnover checks apply; limits are not stated here.
The internal audit services page says section 194Q covers purchase of goods above the notified limit from resident sellers. TDS on purchase of goods under 194Q needs buyer turnover checks each year on that page. Seller turnover affects whether 194Q applies on a particular transaction.
Internal audit copy says section 194C does not apply to payments for purchase of goods in most cases. Works contracts and job work stay on the 194C page. Commission to agents stays on the section 194H page.
The rent and contractors hub names 194I, 194C, and 194J for other payments. This page is only the 194Q row from internal audit copy. The notified limit and rate are not stated on Future Tax pages here.
Deductor quarterly filing stays on the TDS return filing page and the Form 26Q page.
The internal audit services page says section 194Q covers purchase of goods above the notified limit from resident sellers. It says TDS on purchase of goods under 194Q needs buyer turnover checks each year and seller turnover affects whether 194Q applies on a particular transaction. This page does not state those limits.
No. Section 194C is for contractors and subcontractors on the section 194C page. Internal audit copy says section 194C does not apply to payments for purchase of goods in most cases. 194Q is the purchase-of-goods row on the internal audit list.
No. The published pages name 194Q and turnover checks but do not state a percentage or notified limit on this page.
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