The provisions relating to TDS on purchase of goods were introduced to track high-value transactions and have now been incorporated under the Income-tax Act, 2025 as Section 393(1) [Table: Sl…. Read more »
The provisions relating to TDS on purchase of goods have been restructured under the Income-tax Act, 2025. The earlier Section 194Q of the Income-tax Act, 1961 is now covered under… Read more »
In the Finance Act of 2021, the Indian government inserted Section 194Q. The Indian government’s intention behind enacting this law was to generate a trail of high-value purchases and sales… Read more »
Note: Effective FY: 2025-26, as per the Union Budget TCS on Sale of Goods has been withdrawn [Section 206(1H)]. Section 194Q – TDS on Purchase of Goods limits the scope… Read more »
The Income Tax Department has released a new version of the File Validation Utility (FVU) to validate TDS/TCS returns before submission. This update introduces several enhancements and changes, effective from… Read more »
Effective from 1st October 2024, issue of certificates under Section 197 (lower deduction / collection) has been extended to include Sections 194Q and 206C. This change is a landmark as… Read more »
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