The Central Board of Direct Taxes (CBDT) has issued a circular laying down guidelines for Section(s) 194-O, 194-Q & 206C of the Income-tax Act, 1961, to remove difficulties faced by taxpayers & to ease compliance.
Among others, CBDT has clarified that if the component of VAT, sales tax, excise duty, CST, GST, etc., have been indicated separately in the invoice, then TDS under section 194Q is to be deducted without including such indirect taxes.
Click here for detailed official circular:
Knowledge Update
Income Tax Refund of Around Rs 4600 Crore Issued in 3rd Week of November