pile of american banknotes and retro light box

Clarifications/Guidelines regarding TDS u/s 194Q (applicable w.e.f 1.7.2021, TDS on payment for purchase of goods above threshold limit of Rs. 50 Lakhs by a buyer whose turnover is exceeding Rs. 10 crores in preceeding FY) and TCS u/s 206C(IH) and TDS u/s 194-O issued vide circular no. 13 dt. 30.06.2021

Applicability of 194Q A new section 194Q was inserted by Finance Act 2021 for deducting tax at source. This section is applicable w.e.f 1st July 2021. It applies to any buyer (Buyer is defined to be person whose total sales or gross receipts or turnover from the business carried on by him exceed ten crore […]

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Financial System and its stages, components and Functions.

Financial System “Financial System” is a set of inter-related activities working together to achieve some pre-determined goal. It includes- Markets Financial institutions Financial Instruments Financial services and The Mechanism that influences the generation of savings for investment, capital formation and growth. An efficient financial system plays the key role for an economy to operate efficiently […]

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