Brief Introduction:- What is Section 194N?Every person, being-(i) a banking company to which the Banking Regulation Act, 1949 (10 of 1949) applies (including any bank or banking institution referred to in section 51 of that Act);(ii) a co-operative society engaged in carrying on the business of banking; or(iii) a post office who is responsible for …
Section 194M As per the existing provisions of Section 194C and Section 194J, an individual or HUF, who are not liable to tax audit under Section 44AB(a)/44AB(b), shall not be required to deduct tax under the provisions of section 194C & 194J. Due to this many payments made by individuals or HUFs in respect of …
Note- the final hearing has not taken place as on 30.06.2019 *** ‘Quantified’ means a written communication of the amount of duty payable under the indirect tax enactment [Section 121(g)]. Such written communication will include a letter intimating duty demand; or duty liability admitted by the person during enquiry, investigation or audit; or …
The Central Government just recently made changes to the Rules regulating the manner of issuing the tax invoices by issuing Notifications 68/2019 to 72/2019 on 13th December 2019. Here are the key takeaways to note which could change the manner you issue tax invoices. Notification 68 notifies of sub-rules (4), (5) & (6) after sub-rule …