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Company incorporated on dec 2021..bank account opened on April and filed commencement on April 2022..pls help how to show paid up capital of 10000..is it possible to show as cash for that period 21-22?

Hi,
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Read more at: https://www.caclubindia.com/experts/ask_query.asp

I am buying an under construction apartment in Bangalore from the landowner's share. The title and other documents of the apartment are clear. There are 4 owners of that apartment - Mother, Son1, Son2, Daughter (who is a NRI). Mother has the power of attorney from Son1, Son2, NRI Daughter for the purpose of sale of apartment in the society built on their land, signed and registered at sub-registrar office. Does the Power of Attorney need to be certified by the Indian Consulate/Embassy of the country in which the NRI Daughter resides?

I have already paid 10% of property sale consideration to the Mother's bank account for signing the sale agreement.

Now I got to know from a bank employee that I am supposed to pay the amount individually to each of the owner's account proportionate to their ownership share (so 2.5% each to the 4 individuals account instead of 10% to the account of POA holder) and while paying the NRI Daughter's share, I am supposed to withhold 22.88% of that payment as TDS (and pay it to Income Tax department). The same process would apply to future payment by me as well as the loan amount paid by the bank.

In case I don't deduct the 22.88% TDS from the NRI Daughter's share (pay her 100% of her share's sale consideration), the income tax department may ask me at any point in future to pay that TDS from my own pocket and also levy a 12% penalty from me for failing to deduct the TDS.

Is my understanding correct or am I missing something?

Did I make a mistake paying 10% to the POA holder (Mother)? Should I get that refunded and make payment of 2.5% to each individual, deducting 22.8% from the NRI Daughter's share?

Hello, is tcs under section 206c (1h) applicable if turnover of 10 cr exceeds in the current financial year?

pls guide what this section implies and all about it
thanks

Sir/mam,

One Consultant Filed ITRU FY 2021-22 AY 2022-23 , in Jan 2023 efiling portal accepted received acknowledgement.

Yesterday in CA Club india I was studied ITRU FY 2021-22 AY 2022-23 wef : 01-04-2023 it is enable to file

If what happen filed in Jan 2023

Please clarify my doubt and if it is filed before March 2023 what is penalty etc

Thanking you,