As per provisions of section 194Q of the Income Tax Act, TDS is deductible if- ·         The buyer is responsible for making payment of a sum to the resident seller; and ·         Such payment is to be done for the purchase of goods of the value/ aggregate of the value exceeding INR 50 Lakhs. Explanation of…

Following are the upcoming deadlines of August 2021:-   7 August 2021 – The due date for deposit of Tax deducted/collected for the month of July 2021. However, all sum deducted/collected by an office of the government shall be paid to the credit of the Central Government on the same day where tax is paid without…