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SHYAM KRISHNAN K
This Query has 3 replies

This Query has 3 replies

14 September 2024 at 08:29

Sitting fee to directors and shareholders

In private limited company, is it possible to provide allowance to shareholders and directors for board meeting sitting fee. Is there any limit for that


Pankaj
This Query has 1 replies

This Query has 1 replies

13 September 2024 at 18:52

RCM on royalty in Stone Crusher business

Respected sir & madam,
My one client is engaged in Stone Crusher business. He pay royalty to collector office & collect raw stone & crush it in his crusher plant & sale Khadi it in local market. He collect 5 % GST on sales. I have a questions that is there required to pay RCM on royalty paid by him ? If yes please at which rate & any circular is available . If RCM paid on such royalty it can be used as like ITC against next month’s GST liability?


Sheregar Veerendra
This Query has 1 replies

This Query has 1 replies

13 September 2024 at 16:49

Consulting charges

Just wanted to check income tax


Pankaj
This Query has 3 replies

This Query has 3 replies

Respected sir, State government or central government gives family pension to the family member of pensioner. Family pension is taxed under the head of other income. In this case TDS should be deducted or not on family pension ? If yes - then under which section . please guide


Keyur
This Query has 1 replies

This Query has 1 replies

13 September 2024 at 13:14

Revised return and not respond 139 9

Sir/Madam

I have received notice for defective return and not able to reply it and time bar.
Can I will be eligible to file revised return today for getting refund of Rs. 30000??

Please clarify me on urgent basis.

Thanks,


FinTax (CA ABHISHEK SINGH)
This Query has 1 replies

This Query has 1 replies

13 September 2024 at 12:55

Clause 20a of 3CD- which bonus to disclose

(a) Any sum paid to an employee as bonus or commission for services rendered, where such sum was otherwise payableto him as profits or dividend [Section 36(1)(ii)].

Dear all a company pay bonus under long term incentive plan every year , lets say 10 lacs is LTIP which will be paid to employees 15%, 25% , 30% & 30% respectively in 1 to 4 years.

Do we need to disclose the same in clause 20 for tax audit ??


Srinivasan
This Query has 1 replies

This Query has 1 replies

12 September 2024 at 22:39

TDS under 194Q clarification

Company A made an advance payment of ₹3 crores to Company B for the acquisition of the latter’s business during FY 23-24, approximately 6-9 months ago. No TDS was deducted on this advance payment.

In August 2024, the deal to acquire the business failed, and Company A now intends to use the advance amount to purchase certain assets from Company B instead.

When does TDS under Section 194Q become applicable in this situation? Should TDS be deducted in August 2024, and if so, is there a need to pay any interest or penalties for the delay?


Mohit
This Query has 1 replies

This Query has 1 replies

12 September 2024 at 20:49

128A notification

is the notification for 128A for interest and penalty relief issued. if yes, please give reference to the notification


BISWAJIT MAIKAP
This Query has 5 replies

This Query has 5 replies

SIR/ MADAM , IS ANY TAXPAYER IS TAKING A GOLD LOAN , THEN IS IT TO NEED TO SHOW THE GOLD VALUE AS ASSET IN BALANCE SHEET?


Chaitanyaa
This Query has 3 replies

This Query has 3 replies

12 September 2024 at 15:42

Debtor more than 6 months

Banks in India do not consider debtor more than 180 days as current assets. What may be the reason. ?