Symptom
Section 197 of the IT Act has been amended to allow application for lower deduction certificate with respect to TDS on purchase of goods under section 194Q of the IT Act. This change will be effective from 1st October 2024.
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Environment
- Financial Accounting
- SAP R/3
- SAP ERP Central Component
- SAP ERP
- SAP enhancement package for SAP ERP
- SAP enhancement package for SAP ERP, version for SAP HANA
- SAP S/4HANA
- SAP S/4HANA Finance
- This is relevant for India Localization or Country India Version (CIN) component.
Product
SAP ERP Central Component all versions ; SAP ERP all versions ; SAP R/3 Enterprise all versions ; SAP R/3 all versions ; SAP S/4HANA 2022 ; SAP S/4HANA Finance all versions ; SAP enhancement package for SAP ERP all versions ; SAP enhancement package for SAP ERP, version for SAP HANA all versions
Keywords
Legal change, Purchase of goods, Tax deducted at source, TDS, Budget 2024, withholding tax, section 194Q, 197, LDC, Lower deduction certificate, India, FI-LOC-FI-IN, FI-LOC-FI-IN-WHT , KBA , FI-LOC-FI-IN , India , FI-LOC-FI-IN-WHT , Withholding Taxes , How To
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