We have deducted TDS on secondary purchases of investments from Non-Residents under the relaxation provided by Rule 37BC of the Income Tax Rules, 1962, and filed TDS Form 27Q.
However, as PAN was unavailable in these cases, we have received an intimation/demand from the TDS department citing short deduction of TDS (without considering the relaxation under Rule 37BC).
If anyone can provide guidance on how to handle this situation, it would be greatly appreciated.
I am inquiring about the potential purchase of loss-making companies that are currently in the process of liquidation or undergoing proceedings with the NCLT for winding up.
Click here to view / answer Share it onHello everyone,
Can I avail Input Tax Credit on Business assets purchased on Hire purchase basis?
Hello all,
Whether purchases made by Embassies or UN are taxed or exempted?
Dear all,
Can Indian residential buy shares of Indian companies from a Chinese personal. In view of the press note 4/2020.
Dear Members,
We have planned to distribute educational equipment to underprivileged students studying in various levels.
The equipment purchase including GST ?
How do we treat the CST Contribution for Compliance ?
1. Purchase materials including GST and should not claim GST input
Ex:- CST Contribution is Rs. 1 Lakh
purchase material worth Rs. 1 Lakh (including GST 18,000/-)
or
2. Purchase the materials to the extent of Rs. 1 Lakh and pay GST 18% GST and total payout Rs. 1,18,000/-
Payout Rs. 1,18,000/- and claim 18,000/- the input tax credit ?
Which is the best practice of compliance ??
Dear Members,
We have planned to distribute educational equipment to underprivileged students studying in various levels.
The equipment purchase including GST ?
How do we treat the CST Contribution for Compliance ?
1. Purchase materials including GST and should not claim GST input
Ex:- CST Contribution is Rs. 1 Lakh
purchase material worth Rs. 1 Lakh (including GST 18,000/-)
or
2. Purchase the materials to the extent of Rs. 1 Lakh and pay GST 18% GST and total payout Rs. 1,18,000/-
Payout Rs. 1,18,000/- and claim 18,000/- the input tax credit ?
Which is the best practice of compliance ??
Dear Members,
We have planned to distribute educational equipment to underprivileged students studying in various levels.
The equipment purchase including GST ?
How do we treat the CST Contribution for Compliance ?
1. Purchase materials including GST and should not claim GST input
Ex:- CST Contribution is Rs. 1 Lakh
Purchase material worth Rs. 1 Lakh (including GST 18,000/-)
or
2. Purchase the materials to the extent of Rs. 1 Lakh and pay GST 18% GST and total payout Rs. 1,18,000/-
Payout Rs. 1,18,000/- and claim 18,000/- the input tax credit ?
Which is the best practice of compliance ?
Dear Professionals,
One of the director of Private limited Company was purchased the land in the name of Private Limited Company in 2006, without the board approval or intimation.
Is this any violation under companies act 1956?
Dear Members,
We have planned to distribute educational equipment to underprivileged students studying in various levels.
The equipment purchase including GST ?
How do we treat the CST Contribution for Compliance ?
1. Purchase materials including GST and should not claim GST input
Ex:- CST Contribution is Rs. 1 Lakh
purchase material worth Rs. 1 Lakh (including GST 18,000/-)
or
2. Purchase the materials to the extent of Rs. 1 Lakh and pay GST 18% GST and total payout Rs. 1,18,000/-
Payout Rs. 1,18,000/- and claim 18,000/- the input tax credit ?
Which is the best practice of compliance ??
Dear Professionals,
One of the director of Private limited Company was purchased the land in the name of Private Limited Company in 2006, without the board approval or intimation.
Is this any violation under companies act 1956?.
Dear Friends,
Need Help.
We being a private limited company are continually purchasing material and Capital Assets from our Holding company (99.99% shareholding) at arm's length price.
Do we need to seek any prior approval from Shareholder's by way of Special Resolution at the beginning of the year??
Or Board's Approval will be ok??