Finance Act, 2021 inserted a new section 194Q which takes effect from 01-07-2021. It provides for deduction of tax at source on payment made for the purchase of goods (subject to fulfilment of prescribed conditions). The Board, with the prior approval of Central Government, has issued guidelines for removing certain difficulties in implementing the provisions of section 194Q.Finance Act, 2021 inserted a new section 194Q which takes effect from 01-07-2021. It provides for deduction of tax at source on payment made for the purchase of goods (subject to fulfilment of prescribed conditions). The Board, with the prior approval of Central Government, has issued guidelines for removing certain difficulties in implementing the provisions of section 194Q.taxmann.com Latest Statutory HappeningsRead More
