Articles by CA Piyush Agarwal

TDS u/s 194Q on purchase of goods

Posted by CA Piyush Agarwal 27 February 2021 8105 Views

Discussing Section 194Q (TDS on payment of a certain sum for purchase of Goods) of the Income Tax Act, which has been introduced by the Finance Minister in Union Budget 2021.

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

Posted by CA Piyush Agarwal 19 December 2020 4321 Views

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

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

Posted by CA Piyush Agarwal 26 July 2020 56075 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.

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

Posted by CA Piyush Agarwal 13 February 2020 21393 Views

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

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

Posted by CA Piyush Agarwal 13 January 2020 21944 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.