In case of TCS on “sale of goods” deduction of TCS will be made based on PAN number. If multiple customers have same PAN number than all transactions executed by different customers have same PAN will be accumulated and compared against threshold lim...
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Every time the seller receives part of the sale consideration in advance, the seller is mandated to deduct TCS under Section 206C(1H). The difficulty arises in the calculation of the amount when TCS is deducted on multiple advance payment transaction an...
TAXBOX INDIA Shifting of registered office of company... 12-Feb-2022 CS VIPUL ARORA Late fee,Penalty and interest on GSTR 3B filing... 22-Dec-2021 CS SIMRAN RESIDENTIAL STATUS FOR INCOME TAX... 06-Sep-2021 cs vipul arora Taxability of sale of land and building section 50... ...
Commission, Remuneration, Prize etc., on sale or lottery (Under section 194G) Payment of Commission or brokerage (Under section 194H) Rent (Under section 194I) Professional service (Under section 194J) Income from Units (Under section 194K) Payment of compensation on acquisition of certain imm...
Taxmann's Advisory offers frictionless expert opinions on all matters related to tax and corporate law in India. Our team of experts is comprised of leading professionals in the field, with years of experience and a deep understanding of the latest developments and controversies. Use our legacy ...
It also highlights the effect of GST on various types of commerce business transactions, and shows the accounting and posting of transactions where the receipt is printed at the point of sale (POS).PrerequisitesTo work with GST in Commerce for India, you need to complete a general GST setup....
India's Reserve Bank (RBI), or a corporation founded by or under a Central Act that is free from income tax on its earnings under any law in place at the time, or a Mutual Fund as defined in section 10 clause (23D). 8. What is the best way to deposit Tax deductions at source?
12,500 is not always applicable in the case of all liabilities. This rebate can be claimed in the following cases: In the case of normal income which is taxable at the slab rate In Section 112. Section 112 is applicable for long-term capital gains on the sale of any capital assets ...
1.Section 54:The section offers exemption on long-term capital gains from selling a residential property if the sale proceeds are reinvested in another residential property in India within specified timeframes. This property must be built within three years of the sale date, purchased within two ye...