We have recently constructed our new business building and held Electricity Connection, Inspection, Testing & Verification at new building Which is amounted total 280000 without GST.
Which Section of TDS should be apply and with how much rate to be applied ?

I paid an initial amount of 30% of the flat cost towards purchase of an underconstruction house in Mumbai in January 2021 (Registration - April 2021), the possession of which was promised in 2026. The construcion was stopped due to Covid and delays in permissions. The construction and restarted and new possession date is now November 2029.

If I sell my mutal fund holdings in September 2024, and pay the entire amount from the sale of my units (i.e initial invested capital plus the gains = net proceeds) towards installment for the demand that is triggered in September 2024, can I avail of the capital gains benefit under section 54F?

PARTNER CAN WITHDRAW CASH FROM FIRM AS A CAPITAL UPTO 2 LAKH DURING THE YEAR OR IS THEIR ANY RESTRICTION ON THAT REGARDING 269SS/269T???

Hi,
Could you please tell me the TDS rate and section on content writing.

Can CS and CMA Perform Tax Audits? Understanding the Implications of the New DTC Bill

With the anticipated introduction of the new Direct Tax Code (DTC), there's been a growing discussion around the potential inclusion of Company Secretaries (CS) and Cost and Management Accountants (CMA) as authorized professionals for conducting tax audits. Currently, Chartered Accountants (CA) are the only professionals permitted to perform this function under the Income Tax Act. However, if the new bill includes these changes, it could significantly alter the landscape of tax audits in India.

Key Points:
Proposed Changes Under the New DTC:
The DTC bill may extend tax audit powers to CS and CMA, broadening the scope for professionals beyond Chartered Accountants.
Impact on CAs:
The inclusion of CS and CMA could be viewed as a potential dilution of the exclusive rights currently enjoyed by CAs. It is expected that certain sections of the CA community may oppose this move, citing concerns over quality control and the level of expertise required for tax audits.
Industry Reactions:
There are mixed opinions within the professional ecosystem. Proponents argue that both CS and CMA professionals possess the necessary qualifications and knowledge to handle tax audits effectively. Others, particularly from the CA fraternity, may contest this, emphasizing the need for specialized accounting expertise.
Likelihood of Approval:
The passage of the DTC with these provisions is uncertain. While the government may push for broader professional inclusion to meet the growing demand for tax audit services, opposition from the CA community and debates on maintaining audit standards could slow down or alter the approval process.

Final Thoughts:
What do you think? Will these changes benefit the profession and the economy, or should tax audits remain the domain of Chartered Accountants only?

PURCHASE PRINTED STICKER FOR COURIER SERVICE BUSINESS
UNDER HEAD NAME
DIRECT EXPENSES OR INDIRECT EXPENSES


ALSO FORWARDING / TRANSPORTATION CHARGES
UNDER HEAD NAME
DIRECT EXPENSES OR INDIRECT EXPENSES


THANKS IN ADVANCE


THANKS IN ADVANCE

If an Indian company sends its employees abroad, employees HAVE TO STAY WHOLE YEAR OUT OF INDIA, THEN IS that income SHOULD BE considered AS Indian income or foreign income FOR THAT EMPLOYEES ?


TDS HAS BEEN DUDECTED UNDER TDS SECTION 192 BY THAT COMPANY.

If contract expenses are capitalised by deductor /payer ( ie.not debited to prof loss of deductor,) does deductor have to deduct 194c?

My view yes because it's it's still income of deductee/payee.

Also 194c plainly says deduct .

A trust wants to make a donation to another trust,; both trusts having registration under section 12aa. What is the procedure to be followed. Can the experts throw some light on this issue please

Dear Sir/Madam,

I shall be grateful if you can share your opinion on the following facts:

Our's is a Pvt Ltd Company and we purchased a car for business travel purpose on 01.01.2018 for Rs. 8,46,500/- including GST, we did not claim any ITC on it.

We sold the vehicle for Rs. 4,80,000 on 04.11.2023, as per the last audited financials the WDV as on 31.03.2023 is Rs. 1,20,177/- and WDV as on 04.11.2023 is Rs. 97,761/-.

My questions are as following:

1. Do we need prepare an invoice on the sale value of car or on the profit of the car, what shall be the GST on it?
2. The profit or loss on sale of car and GST liability is determined in this case as per Companies Act or Income tax Act.

Request to kindly provide your valuable inputs to us.

Thanks in advance
Mohith