(a) Any sum paid to an employee as bonus or commission for services rendered, where such sum was otherwise payableto him as profits or dividend [Section 36(1)(ii)].

Dear all a company pay bonus under long term incentive plan every year , lets say 10 lacs is LTIP which will be paid to employees 15%, 25% , 30% & 30% respectively in 1 to 4 years.

Do we need to disclose the same in clause 20 for tax audit ??

An Ind AS-compliant company has several Joint Ventures (JVs), all of which are Associations of Persons (AOPs). For tax audit purposes, do we need to prepare financial statements according to GAAP, or is it necessary to prepare them in accordance with Ind AS?

In case of transfer of shares of small private ltd. company do we need Valuation Report before we transfer shares ?

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. ?