Penalties for Non-Issuance/Incorrect of e-Invoice

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TDS Chart (Summary)

 TDS Chart (Summary) Section Particular Limit Rate 192 Salaries Slab Basis 193 Interest on Securities ₹ 10000 10% 194A Interest other than from Banking Co. ₹ 5000 10% 194C Payment to Contractors - Single Payment ₹ 30000 1%/2% 194C Payment to Contractors - During the Year ₹ 100000 1%/2% 194D Insurance Commission ₹ 15000 5% 194H Commission & Brokerage ₹ 15000 5% 194I Rent - Land & Building ₹ 240000 10% 194I Rent - Plant & Machinery ₹ 240000 2% 194IA Purchase of Immovable Property ₹ 50 Lakh 1% 194IB Rent - Individual/HUF ₹ 50000/month 5% 194J Fees - Professional/Technical Services ₹ 30000 10% 194M Individual/HUF - Other than 194C,H,J ₹ 50 Lakh 5% 194N Cash Withdrawal in Excess of ₹ 1 Crore ₹ 1 Crore 2% Disclaimer: Every effort has been made to avoid errors or omissions in this material. In spite of this, errors may creep in. Any mistake, error or discrepancy noted may be brought to our notice which shall be taken care of in the next edition. In no event the author shall b...
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COVID - 19 impact on Audit reporting

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With wide-ranging COVID- 19 travel restrictions all around for an undetermined period,  the companies and their auditors are encountered with uncertainties in a number of audit  areas. Difficulties are also faced by entities in meeting their reporting timelines and the  same extend to auditors and their ability to complete the audit on time due to impediments  presented by COVID- 19. Considering this, auditors may need to perform additional  performance procedures to evaluate the appropriateness of management in assessing  the impact of uncertainties in the business.  Amid the economic turmoil, COVID- 19 is the principal consideration in the auditor's determination in assessing whether one or more Critical Audit Matter (CAM) exists and if exists, how to address those CAMs while reporting financial statements. A lot more doubts are rising till date on part of auditor in fulfilling their reporting requirement. To provide a detailed reporting framework to...
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