Hi All

What is the meaning of 'Whether aggregate of TDS and TCS for the year exceeds ₹50,000” as per sec 206AB and 206CCA?

Thanks in advance

GTA single consignment not amount of RS.749/- RCM applicable or no

I AM TO RECEIVE FUND TRANSFER OF RS. 18 LACS FROM MY MOTHER'S ACCOUNT DUE TO INHERITANCE. HOW SHOULD I TREAT THE SAME IN INCOME TAX AT THE TIME OF FILING OF ITR! WHETHER I AM LIABLE TO PAY ANY TAX ON THE SAME IN INCOME TAX OR ANY OTHER LAWS!

Query :-
Assessee Company Turnover - Above 10 Crore
Customer Turnover - Above 10 Crore
W.e.f 1st July 194Q will be applicable and my customer will deduct tds on invoice raised post 1st July and remit balance funds.
But what about invoices raised prior to 1st July eg :- invoice raised in April for Rs. 75 Lakhs (TCS was not charged in invoice).Now he pays Rs. 75 Lakhs on 2nd July. So will the customer be liable for tds or will assessee have to collect TCS?

This Experts. Please clarify
Indian Oil Corporation Collect Non refundable Security Deposit from Dealers along with GST.
and also reimburse the 25% of rent along with GST to dealers. whether Dealer can claim ITC on the Security deposit, while payment of gst to department on Rent reimbursement.

Thanks in advance

Whether Presumptive taxation benefit under Section 44ADA is Available for resident but not Ordinary resident? (RNOR) I thought that the bifurcation of Resident -Ordinary and Not -Ordinary is only for the limited purpose of Chargeability of Income in India. And since section 44ADA is Applicable for "Resident" ,I think it is applicable for both Ordinary resident and Not Ordinary Resident. Similarly, please clarify the applicability of Section 87A rebate for Not Ordinary Resident. Thank in advance

A company has in its board meeting approved split 1 share of Rs. 5/- in 2.5 share of Rs.2/-.

Further in the same board meeting 1:1 Bonus has been approved. First shares et split and then the bonus shares would be allotted of course all subject to approval of shareholders.

So efectively if one holds one share theoretically he would have 5 shares once the process is completed.

However the question arises is how whether Company can allott bonus shares in fraction?

Would appreciate response!

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1.Important factors that are requested to be considered while prepared estimated and provisional and projected profit and loss, balance sheet (like gross profit and net profit precentages)and other factors can be taken of while prepared estimated and provisional and projected and
2.how to calculate procedure drawing power
3.drawing power and sanctioned limit difference

TDS SECTION 194Q W.E.F. 01.07.2021. IN THIS REGARD
MY QUERIES IS-
BUYERS BUYING TRANSACTION THRESHOLD LIMIT IS 50 LAKHS
WHETHER TDS U/S 194Q IS DEDUCTIBLE FROM RS. 1 OR AFTER
DEDUCTING 50 LAKHS RS.
FOR EXAM.
PURCHASE 100LACKS
LESS- 50LAKHS
ELIGIBLE AMT.FOR TDS -50 LAKHS
OR ENTIRELY WHOLE 100 LAKHS ( ELIGIBLE FOR TDS)

PLEASE GUIDE US