{"id":19003,"date":"2021-06-07T12:19:19","date_gmt":"2021-06-07T06:49:19","guid":{"rendered":"https:\/\/itatonline.org\/digest\/?post_type=qa&#038;p=19003"},"modified":"2021-06-08T12:19:32","modified_gmt":"2021-06-08T06:49:32","slug":"tds-u-s-194q-of-i-t-act-wef-01-07-2021","status":"publish","type":"qa","link":"https:\/\/itatonline.org\/digest\/qa\/tds-u-s-194q-of-i-t-act-wef-01-07-2021\/","title":{"rendered":"When a transporter having more than 100 Cr of Turnover purchases  Diesel from Indian Oil Corporation Ltd and receives Petro Cards of the same amount is he liable to deduct tax at source u\/s 194Q of the Act ?"},"content":{"rendered":"<p>A transporter having more than 100 Cr of Turnover purchases\u00a0 Diesel from Indian Oil Corporation Ltd.It makes advance payments to the Co and in return receives Petro Cards of the same amount.The no. of Petro Cards and value charged to each card is as per the requirement of the transporter. The driver of the individual truck is buying diesel from any\u00a0 dealer of the IOC\u00a0 located on his allotted route by swiping the Petro \u00a0Card on the POS machine kept at the pump.The pump owner hands over a machine generated slip of the quantity of diesel filled and amount thereof.<\/p>\n<p>In this scenario how the\u00a0 transporter shall comply with provisions of section 194Q?<\/p>\n<p>When and on which amount shall it deduct TDS?<\/p>\n","protected":false},"comment_status":"open","ping_status":"closed","template":"","qa_expert":[139],"qa_category":[23],"qa_tag":[230,211,229],"class_list":["post-19003","qa","type-qa","status-publish","hentry","qa_expert-research-team","qa_category-income-tax","qa_tag-petro-cards","qa_tag-tax-deduction-at-source","qa_tag-tds-u-s-194q"],"acf":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa\/19003","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/qa"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=19003"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=19003"}],"wp:term":[{"taxonomy":"qa_expert","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_expert?post=19003"},{"taxonomy":"qa_category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_category?post=19003"},{"taxonomy":"qa_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_tag?post=19003"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}