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As anticipated, the Apex body CBDT has come up with a Circular No. 13 of 2021 bearing folio no. 370142/26/2021-TPL, (enclosed as per PDF file below), containing clarificatory guidelines on newly inserted provisions concerning applicability of TDS on Purchase of Goods u/s 194Q of the Income Tax Act, applicable w.e.f. 1.7.2021.

In this Taxalogue, all the significant clarifications/guidelines as contained in the captioned CBDT Circular No. 13 of 2021, concerning the practical implementation of the provisions of section 194Q w.e.f. 1.7.2021, have been explained with practical illustrations.

However, before proceeding towards the captioned CBDT Circular, it is desirable and worthwhile to first understand the newly inserted provisions on T.