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?

Can we put other objects in moa ?
Also only 2 main objects r allowed in name reservation form while selecting industry code , right.?

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

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?

If Order of ITAT has been issued and Case is Remand back to CIT(A)
So now we have to file appeal against CIT(A) again?

Private Limited Company - Holds fund in LIC for Gratuity and have actuary consultant as well. Now the situation, the present obligation amount payable under LIC & Present obligation amount as per actuary consultants report are not matching.. huge variance.

is there any way to reconcile that.. we are able to match only the fair value of assets between LIC & Actuary consultants report.

Kindly help its very urgent. Thanks in advance

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

I am Government civil contractor. In F Y 2023-2024 my turnover i.e contract receipts is Rs 6 cr. Total receipts is received through other than cash mode. Also i have to declared profit at 6% of total contract receipts. I have not filed my ITR before 31 july 2024. I have some query :
1) can i file now my ITR U/S 44AD with declared profit 6 % ?? Income Tax Audit is compulsory or nor ??
2) If I file my ITR u/s 44AD with declared profit 6 % then MSME new provision i.e 15 day or 45 days payment rule will be applicable for sundry creditors or not ????

How are allowances such as House Rent Allowance (HRA), Sumptuary Allowance and Compensatory Allowance to Honourable Judges of High Court judges, previously exempt under the Income Tax Act, treated under the new tax regime?

Is there any specific notification or circular issued by CBDT regarding the treatment of these allowances under the new tax regime? If yes, please provide a copy.

Suppose if i purchase good on 1095 ( including gst ) and i can sale that on 1140 (including gst) but my buyer allow me to sale it on 1110 and 30 rs he will reimburse me . The item is taxable at 12%. Then this incentive is taxable at 12% or 18% and how will i show it in gstr . Which hsn should i put and also let me which qty i need to put along with hsn