As per Section 194Q the buyer, whose turnover or gross receipts or total sales is Exceeding Rs. 10 crores in a financial year immediately preceding the relevant financial year, shall be liable to deduct tax at rate of 0.1% on the value exceeding Rs. 50 lakhs at the time of: –

Section 194Q was introduced in the Budget of 2021-22 and has come into effect from 1^st July, 2021. However, the CBDT has said that this provision would not …