New Income Tax TDS Section 194Q-TDS on purchase of goods is effective from 01.07.02021,As per section 194Q, When a Buyer who is responsible for paying any sum to any resident seller for the purchase of any goods of the value or aggregate of such value exceeding Rs.50 Lakhs during the year, he shall deduct TDS @0.10%, on the amount exceeding Rs.50 Lakhs. In non-PAN/ Aadhaar cases. The rate shall be 5%. TDS u/s 194Q = 0.1% of [Total Purchases (Minus) Rs. 50 Lakhs]

this video will guide you to record the TDS transaction in Tally Prime and ERP9

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