ATM full form Automated Teller Machine, a self-service banking device that allows users to perform various financial transactions, including cash withdrawals, balance inquiries, and fund transfers. ATMs are accessible 24/7 and widely available at bank branches, retail locations, and standalone machines, providing convenience to customers worldwide. Benefit of ATM Automated Teller Machines (ATMs) have become … Read more
According to the provisions of the Finance Act, 2021, a new Section 194Q, was incorporated into the Income-tax Act, 1961. This particular section pertains to the Tax Deducted at Source (TDS), specifically focusing on transactions involving the acquisition of goods. Section 194Q does not apply on procurement of services. Section 194Q became effective from July … Read more
As per Section 206CQ of Income Tax Act, 1961 pertains to the collection of (TCS) tax collected by every dealer required to collect 5 percent of the amount exceeding 7 lakh rupees, pertains to the sum remitted to for a purpose other than acquiring an overseas tour program package under 206CQ form. Relief under Section … Read more