Good will
This query is : Resolved
30 November 2013
Dear sir,
we have a properitor firm
can we pay rs.2L to a freind without any consideration & without deducting TDS.
coz we just have to pay he will not refund and will not give bill we are just giving him as good wil
pl reply
we have a properitor firm
can we pay rs.2L to a freind without any consideration & without deducting TDS.
coz we just have to pay he will not refund and will not give bill we are just giving him as good wil
pl reply
30 November 2013
You can pay him only by account payee cheque and treat the same as your personal drawings. The thing is the receiver has to show it as gift(taxable above 50,000).
30 November 2013
Sir,
still not understand
if he will show as gift
then he would be liable for Tax?
still not understand
if he will show as gift
then he would be liable for Tax?
02 December 2013
That gift is to a freinnd who will not fit into the defination of relative for exemption. So it will taxable to him for an amount above 50,000
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- TDS U/S. 194NF
- Applicable TDS rate for sale of property in Nov 2024
- Capital gain consideration
- TDS deduction (debit notes)
- Can a partnership firm become partner in a LLP ?
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- TDS on purchase of value vouchers for employees ?
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
