Sir,
A gst registered edible oil whole sale and retail business dealer sales of annual turnover rs:3 cores above previous last 3years.
Question:
Dealer tds and tcs both sections applicable for sec 194q and sec 206 c in it act.

Hi, We are a startup and provide software services to companies outside of India. Currently we are receiving our payments from US, UK and EU and we are paid via swift transfers in our Indian bank account. We also have outgoings in USD as some of our freelancers are based out of the US , Ukraine and Poland
We lose out a lot on FX conversions and our clients prefer to pay us locally in their own countries. So I was hoping you could advise:

1. if we need permission to open an overseas bank account to receive payments in US and UK local via local bank transfer? or what do we need to consider before opening a bank account overseas ?
2. We have come across a company that can offer overseas accounts to an Indian based company. Is holding an electronic money account overseas by an Indian company legal? the e-money account is opened with an Electronic Money Institution regulated by overseas regulator. They transfer the money deposited by the account holder to a tier-1 bank. This is called safeguarding.
3. We would like to collect the payments overseas in this e-money multicurrency account. Thereafter, we wish to pay the freelancers located abroad directly from the overseas account and remit the remaining money back to our Indian Bank Account. The money is received in India through an RBI approved OPGSP who has tied up with the multi-currency account provider.
4. do we need to be registered and recognized as an Exporter under Foreign Trade Policy? What if, we have been conducting our business so far without having to register our company as an exporter in India? Are there any legal implications? we offer software support services to overseas buyers/clients who then transfer our fees/charges/payments through normal banking channels to our Indian current account. recently, we thought of using Payoneer to receive money from our overseas clients, but they asked us to declare that we are duly registered as an exporter in India

Hello Experts,
I have applied for revocation of cancellation on 06th December 2020 with relevant documents.
Registration was cancelled due to non filling of returns.
Till date its showing pending for processing.
What to do now ?

Thanks in advance

Me and my parents are covered under a mediclaim policy taken by the company I work for. Can I claim 80d deduction on medical expenses incurred on my senior citizen parents which were not covered by that policy ?

If somebody has not filed the NIL GST return from 01-April-2020 to 31-Mar-2021 then what will be Penalty on late filing or late fee could be waived off. Kindly help.

Hello Sir/Madam
Requesting clarification

Is AS 10 applicable if a fixed asset like land is given on lease/rent to another person to construct a building upon it?
Reasons on why I considered AS 10 :
1. land is a fixed asset and held with intention of being used for the purpose of producing or providing services
2. addition or extension of capital nature to an existing asset (as the land is given on rent/lease )

Purchased vehicle on 30.11.20 for Rs. 33 lakhs. Vehicle met with accident on 26.03.21. Total loss claim received Rs.24 lakhs, scrap value received Rs.1 lakh, what is the accounting treatment and accounting entries for this. Kindly advice.

Mr A registered in andhrapradesh & purchase goods from telangana to sell in Andhra pradesh.

he forgot to reverse ITC for credit notes inrespect of those goods and want to do it now,

while doing it asking for place of supply for IGST reversal. all my goods was purchased from telangana only.

*** SO WHAT IS PLACE OF SUPPLY- TELANGANA OR ANDHRAPRADESH

dear sir, tds on purchase is applicable from 1.7.2021 if seller charge tcs still i have to pay tds?

We have applied GSt refund , Department sanction my refund and issued RFD 05, But bank account validation failed as per PFMS , then i amend my bank details in non core field and approved , then i try to update bank details in Track application status in refund option then OTP not accepted by portal when i submit OTP ERROR msg show, my issue is pending in GST Grievance since 60 days .

Kindly Suggest any solution,

Thank you in Advance.