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TMI BlogInsertion of new section 194Q.X X X X Extracts X X X X X X X X Extracts X X X X ..... onsible for paying any sum to any resident (hereafter in this section referred to as the seller) for purchase of any goods of the value or aggregate of such value exceeding fifty lakh rupees in any previous year, shall, at the time of credit of such sum to the account of the seller or at the time of payment thereof by any mode, whichever is earlier, deduct an amount equal to 0.1 per cent. of such ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nt of the payee and the provisions of this section shall apply accordingly. (3) If any difficulty arises in giving effect to the provisions of this section, the Board may, with the previous approval of the Central Government, issue guidelines for the purpose of removing the difficulty. (4) Every guideline issued by the Board under sub-section (3) shall, as soon as may be after it is issued, be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ase of any goods of the value or aggregate of such value exceeding fifty lakh rupees in any previous year, shall, at the time of credit of such sum to the account of the seller or at the time of payment thereof by any mode, whichever is earlier, deduct an amount equal to 0.1 per cent. of such sum exceeding fifty lakh rupees as income-tax. The Explanation to the proposed sub-section (1) seeks to d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... this section shall apply accordingly. Sub-section (3) thereof seeks to provide that if any difficulty arises in giving effect to the provisions of the said section, the Board may, with the previous approval of the Central Government, issue guidelines for the purpose of removing the difficulty. Sub-section (4) thereof seeks to provide that every guideline issued by the Board under sub-section (3 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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