Mastering Section 194Q: A Comprehensive Guide to TDS on High-Value Goods Purchases
In an effort to enhance tax compliance and transparency in high-value transactions, the Indian government introduced Section 194Q into the Income Tax Act, effective from July 1, 2021. This provision mandates that certain buyers deduct Tax Deducted at Source (TDS) when purchasing goods exceeding a specified threshold. Understanding the nuances of Section 194Q is crucial […]