Is TDS is deductible if payment reverse by individual to NRI by filing 15CA?
Code :- s1502

TDS is required to be deducted on foreign remittance for purpose code s1502 and recipient is in Czech republic country?

If amount of remittance is below 2,00,000 and purpose is for reversal or wrong entry S15002 so there is liability to deduct any TDS amount for same?

what is TDS rate on employment news and Rating agency Like Crisil.

Dear CA Club Team,
whenever I prepare financial statements at the time of audit, one thing is not clear to me that the figures that I should write in it should be written in thousands, lakhs, millions.

Is there any such company act or government circular according to which it is necessary to write the figures of financial statements in thousands, lakhs, millions. If so, then please share any circular, notification.

Secondly, I want to know whether any new format of financial statement has come which is necessary for corporate and non-corporate assessees. Please share the new financial format and also share the notification.

Third point, is there any website from where all these types of notifications, circulars can be seen? Please share it so that I can also get updated on time.

Thanks

Respected Sir/ Ma'am
We recently received a notice under our client's TAN, stating a demand has been raised due to the associated PAN being marked as inoperative. In the Demand Notice received, all the employees mentioned in the list have the Total Taxable Income below Rs. 5,00,000/- in the previous Financial Year i.e., 2023-24.

So, here at this point we seek your guidance that what if we remove the entries of those employees from previous year. Will the demand be removed or it would still be standing payable?

I would greatly appreciate if you could provide insights or share the experience in dealing with a similar issue. Your guidance on the procedural and legal aspects would be extremely helpful.

Thank you in advance!

Best regards,
Avneet Kaur

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Merger of shares,
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