Dear Sir
one of my creditor charge interest on average Due balance and send a GST invoice and charge gst as applicable on such goods. (like 5%).
i want to know that TDS is required to Deduct and what rate
thanks

Dear Sir
we Create a new Partnership firm in jan-2020. and business not started but land purchase for business in the name of firm.
i want to suggestion that-
ITR of firm is required ?
if yes then which itr form
thanks

When paying TDS online to day, 26.04.2020 through NSDL-TIN website by wrong key operation we paid in excess. We have all details in the receipt downloaded from Bank site. The payment is yet to be updated in NSDL-TIN or TRACES. How to get refund in a day or two. We represented to contactus@tdscpc.gov.in and got an auto reply that due to lock down the rely would be delayed. Can we get refund by 'correction of challan' option? Kindly guide us to get the refund earlier to enable us to pay correct amount before this month end.
With Thanks,
Ramaswamy.T

1. Under what section should TDS be deducted on commission paid to Whole-time Director of a Public Limited Company in Hyderabad?
Does it come under 192 or 194J and What is the percentage of deduction?
2. Is the commission paid as mentioned above considered as remuneration to the director?

Sirs, i have this question if someone can help. So, this is the scenario:
1) Rent agreement is for - 39,000 per month
2) Rent agreement is unregistered
3) Rent is received via bank transfer- 39,000 per month i.e. without deducting TDS
4) Owner is salaried
5) Tenant is not deducting TDS
6) Tenant is salaried and he is claiming HRA from his employer, but not giving owner's PAN (using someone else's PAN)
7) Tenant is mentioning
narration as "Rent" while doing NEFT transfer to owner

Question- Is owner liable to pay tax on rent received?
If yes, then how can owner avoid paying tax
Thanks in advance

I have an accounting problem. During FY2019-20, a party had purchased a new motorcar for Rs.11 lakhs in the month of Nov. 19 and paid full amount for the motor car as per bill of Kataria Automobiles.
After taking delivery, Kararia Automobiles returns Rs.7000/- to the party without issuing any invoice for Rs.7000/- only direct credit to party's bank account, after one month.
Now what treatment in accounting must be take??
The motor car value be (Rs.11 lakhs less Rs.7000/-) Rs.10,93,000/- for depreciation or Rs.11 lakhs?
Rs.7000/- as income/Discount received? There is no documents available for Rs.7000/- only bank statement showing Rs.7000/- directly credited through NEFT.
Please advice on the correct accounting actions?

How to maintain accounts for bakery in TALLY ERP9 is it neccessary to create stock item? is it neccessary to maintain stock journal? is it necc. to post production entry? pls advise step by step creation of heads of ledgers and inventory details.

Read more at: https://www.caclubindia.com/experts/how-to-maintain-accounts-for-bakery-1302879.aspai

Hi, We are the company paying rent 20000 per month to individual ( X ). it means rent amount exactly match rs 240000 per year. in this case TDS applicable us 194I or not.?

Is it necessary that a supply under GST will also be part of Revenue of the supplier?

Company: Private Limited
No. of Directors: 3
Company Incorporated: 01/04/2019
Year closed on 31/03/2020
None of them are appointed as MD/WTD/Manager vide AOA/Board Meeting/GM
But all three worked actively in Company. They are to be given salary/remuneration for 2019-20.
Please explain giving reference to provisions of Companies Act, 2013, how can they be given salary?