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Hukam Chand

Dear CA Club Team,
Actully, I have 2 Little question Kindly Help me I purchase an office equipment on 31/07/2020 of Amount of Rs. 11,101.68 My Advocate Charge the depreciation as per B/sheet figure on 31.03.2021 like: 3,330.68 but my as per my calculation depreciation is become 7547/- Pls help me for this practical query.
And Second Same Case : I purchase an office equipment 03/11/2021 of amount of Rs. 1,07,583.88 and my advocate charge the depreciation 22,930/-
Pls help me for this practical query.

08 April 2023 at 10:42

Bill payments

is it true? "Purchase of goods or services from MSME registred firm or companyneeds to make payment within 15 days and max up to 45 das need to make payment by paying 3 time bank interest rate and also complete purchases will be disallowed and will be added back to income"

05 February 2023 at 12:08

My doubts on capital gain

I wish to know the implications on capital gain on property sold
after 01 Apr 2023 in FY 2023-24 as per the new rules announced
in the budget for the FY 2023-24 . Thanks

04 August 2021 at 13:26


Is there any rule that the basic salary would be 50% only (and not more than that) of gross salary , if gross salary reached at certain limit???????????????

Rachana Gokhale
21 May 2021 at 21:12


Dear Sir/Madam,

1) Our Turnover for Previous F.Y. (i.e. 2020-21) was more than Rs. 10 Crores.
2) We have a supplier who has charged TCS u/s 206C (1H) on the applicable Transactions since April 2021 to till date and will continue the same till 30.06.2021.
3) Now as per Rule u/s 194Q Buyer is liable to deduct TDS on Purchases exceeding Rs. 50 Lakhs. This rule will be applicable from 01.07.2021.

So, please help me understand few point with view to TDS on Purchase of Goods Rule u/s 194Q -

1) Will I have to deduct TDS on Purchases taken from this Supplier from 01.07.2021, as Purchases have already exceeded Rs.50 Lakhs as of date
the threshold of Rs. 50 Lakhs be counted from transaction on and after 01.07.2021 to abide with TDS on Purchase of Goods Rule.

2) Will I have to deduct TDS while making payment of Invoice pertaining to April - June 2021 in which TCS was charged
TDS be deducted on Transactions/Invoices on and after 01.07.2021 at the time of booking.

3) Is TDS to be deducted on NET Value excluding GST or on Gross Invoice Value.

4) Can my supplier continue to charge TCS instead of I deducting TDS.

Looking forward to your expert advise and guidance !

Thanks & Regards,

Mumbaiker Nikhil
16 April 2021 at 17:26



CA Amol B. Bhalerao
14 June 2020 at 10:33

TDS u/s 194A

SIR, amendment in finance bill 2020 tds is required to deduct u/s 194A from interest paid by co-operative bank to another co-operative society


Finance Minister of India has announced a special package of Rs 20 lakh crores for Better Economy of Our Country. Later on she has clarified that approx Rs 9000 crores must be given to Indian Tax payers as TDS Refund which is a part of Special Package of Rs 20 lakh crores. But the real fact is that TDS refund should not be part of Special Package.

Now my question to Nirmala Sitharaman ji,

When these byepass surgery ( Announcement of False Package of Rs 20 lakh crores ) was done by the Finance Deparment , did the highest officials of Prime Minister objects this ?
Can You answer Nirmala Sitharaman ji With a Yes or No ?



Hi Experts
Could you please provide clarity on switching between new and old regime as per Finance act 2020. I understand that all the employee should have provision to switch between new and old regime anytime from April 1st till march 2021. In that case employee can change their plan at any time in the FY. Kindly clarify

avinash s joshi
23 October 2019 at 18:40

RD maturity

If Matured RD (Recurring Deposit) and amount transfer in saving account, how to pass entry in tally, and in which ledger head and under group

Answer Query