Articles by CA Piyush Agarwal

Measures taken in GST Audit while finalizing Books of accounts & preparation of Balance sheet

Posted by CA Piyush Agarwal 22 June 2020 4320 Views

It becomes important to understand the legal provisions under GST law while finalizing books of accounts and preparation of Balance Sheet.

Section 194N - TDS on Cash withdrawal over and above Rs. 1 crore

Posted by CA Piyush Agarwal 11 February 2020 21387 Views

Section 194N - TDS on Cash withdrawal over and above Rs. 1 crore

Section 194M - TDS on payment to resident contractors and professionals

Posted by CA Piyush Agarwal 28 January 2020 56074 Views

Reason for introduction of Section 194M This section was introduced for the purpose to cover some specified high value transactions in personal nature under TDS which was previously excluded from TDS provisions.

Clarification on Insertion of new section 269SU - Digital Payment Facility

Posted by CA Piyush Agarwal 13 January 2020 21943 Views

The CBDT in its latest notification introduced Sec 269SU under the Income Tax Act, 1961. The section is applicable to all companies or business entities with a business volume of Rs. 50 crore or more annually. Such entities must provide facilities and accept payments through digital transactions u/s 269SU. Non-compliance of this regulation shall lead to a fine of Rs. 5,000 per day.

Section 269ST : Penalty of Cash Transactions above Rs. 2 Lakhs

Posted by CA Piyush Agarwal 06 January 2020 96113 Views

You can repay your loan amount to any HFC (Housing finance company) or NBFC (Non-banking finance company) in cash provided each loan installment is less than Rs 2 lakhs.