Expert Blogs
8+ practical guides on income tax, GST, audit, corporate law & CA careers
TCS under Section 206C(1H) on Sale of Goods
TL;DR for CAs - Sellers with turnover above Rs. 10 crore may collect TCS on receipts from sale of goods. - Threshold of Rs. 50 lakh per buyer applies. - Yields to 194Q when buyer…
TDS on Rent: Sections 194I and 194-IB Compared
TL;DR for CAs - 194I applies to specified persons paying rent. - 194-IB applies to individuals/HUFs not under tax audit. - Thresholds and deposit mechanics differ. What it is Two…
Section 194J on Professional & Technical Fees
TL;DR for CAs - 194J covers professional and technical services. - Fee for technical services vs royalty classification matters. - Threshold and rate updates should be checked…
Lower Deduction Certificates under Section 197
TL;DR for CAs - Section 197 allows lower/nil TDS with AO certificate. - Deductors must verify certificate validity and TAN mapping. - Rates apply only for specified periods and…
Form 26Q Filing Guide & Common Defaults
TL;DR for CAs - 26Q reports non-salary TDS quarterly. - Challan-quote mapping errors cause defaults. - Correction statements fix PAN and amount mismatches. What it is Form 26Q is…
Sections 206AB & 206CCA: Higher TDS/TCS for Non-Filers
TL;DR for CAs - Higher rates apply to specified persons who have not filed returns. - Check compliance portal / reporting utility before payment. - Document due diligence in TDS…
Section 194C TDS on Contractors: Practical Scenarios
TL;DR for CAs - 194C covers payments to contractors/sub-contractors. - Single and aggregate thresholds determine applicability. - Rates differ for individuals/HUFs vs others.…
Understanding Section 194Q: A Complete Guide for CAs
TL;DR for CAs - 194Q applies to buyers with turnover above Rs. 10 crore in the preceding FY. - TDS at 0.1% on purchase of goods exceeding Rs. 50 lakh from a resident seller. -…