Home INCOME TAX FILES Download Declaration for TDS on the Purchase of Goods under section 194Q...

Download Declaration for TDS on the Purchase of Goods under section 194Q in Word Format

4591
0
Download Declaration for TDS on the Purchase of Goods under section 194Q in Word Format-TaxIndiaClub

Here, you can Download Declaration for TDS on the Purchase of Goods under section 194Q in Word Format.

We give you a Declaration format in Word for Tax deducted at source under Section 194Q.

There are different types of Declaration require for the Non-Deduction of TDS and TCS. For Example,

  • Buyer Declaration,
  • Seller Declaration,
  • Customer Declaration – (Require when Turnover Above 10 Cr),
  • Customer Declaration (Require when Turnover Below 10 Cr)

From 1 July 2021, Section 194Q is applicable to the Purchase of Goods as per The Finance Act, 2021. if you want to know More about TDS on the Purchase of Goods under section 194Q, read our full blog.

1. Buyer Declaration

To,

Edueasify  Ltd,

Surat, Gujarat-395004

Sub: Regarding the change in compliance due to insertion of new sections 194Q under Income Tax Act.

Dear Sir / Madam,

We, TaxIndiaClub  (Firm Name) , having PAN ………………..  hereby inform you that our total sales/gross receipts/turnover from Business during FY 2020-21 has been more than Rs.10 Crore. Therefore, provisions of Section 194Q inserted in the Income Tax Act vide Finance Act 2021 with effect from 01.07.2021 are applicable to our company. Hence, we shall be deducting tax at source at per provisions of above section from purchase consideration paid/ credited on or after 01.07.2021 to you against supplies made by you at the rate 0.1 percent of purchase consideration paid / credited exceeding rupees 50 lacs during the current financial year.

Since we are liable to deduct tax at source under section 194Q of the Act, you may ensure not to take any action to collect tax at source under section 206C(1H) of the Act w.e.f. 01.07.2021, in case provisions of section are applicable to you considering your amount of turnover and our purchases being of more than rupees 50 lacs.

You are also requested to intimate your Permanent Account Number. In case you fail to provide your PAN, tax will be deducted at the rate of 5 percent instead of 0.1 percent in terms of Section 206AA of the Act.

Further, you are also required to confirm that in your case amount of TDS/TCS was Rs.50,000/- or more in previous years relevant to Assessment Years 2019-20 and 2020-20 and you have filed your returns of income for these assessment years according to section 139(1), otherwise tax is required to be deducted at the rate of 5 percent in terms of Section 206AB of the Act.

You may send to us your declaration in the enclosed draft on or before 20.06.2021 to enable us to take note of same and modify our accounting software accordingly. In case your declaration is not received by us by the above date, we will modify our software to deduct tax at the rate of 5 percent and it would be difficult for us to take corrective action to reduce the rate during the current financial year.

Thanks,

For TaxIndiaClub

 Authorized Signatory

Download the Buyer Declaration in Word Format For Section 194Q, by click on the below Download Button.

2. Seller Declaration for deduction of tax at source u/s 194Q of the Act

below mention are the sample declaration format for TDS Deduction under section 194Q.

To,

Edueasify Ltd

Katargam,

Surat

Sub: Declaration / information for deduction of tax at source u/s 194Q of the Act.

Dear Sir,

This is with reference to your letter dated requiring our declaration / information in regard to deduction of tax at source u/s 194Q of the Act. The information is being provided hereunder:

1. Since your company is liable to deduct tax u/s 194Q of the Act, you may deduct the tax @0.1 % of sale consideration paid /credited by your company to us on the amount exceeding Rs.50 lacs during the current financial year. We also confirm that we will not take any action to collect tax at source under section 206C(1H) of the Act w.e.f. 01.07.2021.

2. Permanent Account Number of our company is XXXXX 3040 X . Further, we have duly filed our returns of income for Assessment Years 2019-20 and 2020-21 as per the information given hereunder:

Assessment YearDate of Filing ReturnAcknowledgement No.
2019-20  
2020-21  

Please take note of the above information and confirmation and deduct tax at the appropriate rate taking cognizance of the above information.

Thanks & Regards           

For TaxIndiaClub

 Authorized Signatory

Download the Seller Declaration for deduction of tax at source us 194Q in Word Format by click on the below download button.

3. Customer Declaration – (Require when Turnover Above 10 Cr)

You can Submit the Customer Declaration when your Turnover Above 10 Cr. Here is the Sample format of the Customer Declaration for Section 194Q.

Edueasify Ltd

Katargam,

Surat.

DECLARATION

Here is to confirm that Annual Audited Turnover of  M/s. TaxIndiaClub  having PAN  XXXXX 3040 X exceeds  Rs. 10 crore during Financial Year 2020-21 and liableto deduct TDS u/s 194Q of Income Tax Act 1961 applicable from 01.07.2021.

For TaxIndiaClub

Authorized Signatory

Download the Customer Declaration for Section 194Q in Word Format.

4. Customer Declaration (Require when Turnover Below 10 Cr)

Following are the sample Customer Declaration for deduction of TDS under Section 194Q.

To,

Edueasify Ltd

Katargam,

Surat.

DECLARATION

Here is to confirm that Annual Audited Turnover of  M/s. TaxIndiaClub  having PAN  XXXXX 3040 X  does not exceedsRs. 10 crore during Financial Year 2020-21 and not liable  to deduct TDS u/s 194Q of Income Tax Act 1961 applicable from 01.07.2021.

For TaxIndiaClub

Authorized Signatory

Download the Customer Declaration for deduction of TDS under Section 194Q in Word Format.

Get regular updates of the latest Financial News and Economic Affairs follow us on Instagram.

LEAVE A REPLY

Please enter your comment!
Please enter your name here