All Punjab shop’s signboards are to be in the local language Punjabi on or before 21.02.2023.

All Punjab shop’s signboards are to be in the local language Punjabi on or before 21.02.2023. Compliances

Mar 212023

Deputy Commissioner Ms. Ashika Jain has directed all government and semi-government offices as well as private institutions of the district to write their signboards in Punjabi language (Gurmukhi script) before February 21, 2023.

Ms. Ashika Jain said that the Punjab government has started its efforts for the promotion of the Punjabi language and it has made it mandatory to write signboards in Punjabi in all government and private institutions before February 21 (International Mother Language Day). She said that in order to give priority to the mother tongue, the Punjab government has taken this decision. So, it is necessary to put up signboards in the Punjabi language in government and semi-government offices, besides boards,
corporate offices, educational institutions, and public, private, and commercial establishments.

Order:- 👇
Office of the Deputy Commissioner, Patiala (In Punjabi)

English-Translation 👇
Office of the Deputy Commissioner, Patiala (In English)

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5 Performance Management Problems.

5 Performance Management Problems. Compliances

Mar 102023

Performance management is essential to HR management, but many organizations need help with effective performance management. Fortunately, HRMS software can help mitigate these issues, providing a more streamlined and efficient approach to managing employee performance. Here are five common performance management problems that can be solved with the help of HRMS software.

1. Inefficient and Inaccurate Performance Reviews Many organizations need help conducting performance reviews, which can be time-consuming and prone to errors. However, HRMS software can simplify the process by automating the performance review process, from scheduling to feedback collection and even generating performance reports.

2. Lack of Clarity in Performance Goals Setting clear and measurable performance goals is crucial for employee motivation and productivity. HRMS software can assist in defining performance goals that are specific, measurable, achievable, relevant, and time-bound (SMART).

3. Inadequate Feedback and Coaching Effective performance management involve providing timely and constructive feedback and coaching to employees. However, managers often need help to provide regular feedback and coaching due to time constraints.

4. Inconsistent Performance Evaluation Criteria Inconsistency in evaluating employee performance can lead to a lack of trust among employees and result in potential legal issues. HRMS software can provide a standardized framework for evaluating employee performance, ensuring consistency and fairness in performance evaluations.

5. Limited Access to Performance Data In many organizations, performance data is spread across multiple systems and platforms, making it difficult to access and analyze. HRMS software can provide a centralized platform for storing and analyzing performance data, enabling HR managers and executives to access real-time performance reports and data analytics.

Why Is Performance Management Important

Performance management is critical for the success of any organization. It helps managers to set clear goals and expectations for their employees, monitor their performance, and provide feedback and coaching to improve their performance. It also helps identify areas of strength and opportunities for development, which can lead to better job satisfaction and engagement. Performance management encourages communication, accountability, and transparency, essential for effective teamwork and collaboration. It also enables organizations to measure the success of their strategic objectives and make data-driven decisions to improve the performance of their workforce.

One essential component of performance management is employee data management software. This software allows organizations to collect, store, and analyze performance-related data, making monitoring performance over time and identifying patterns and trends more accessible. With employee data management software, managers can quickly access individual and team performance information, identify areas of strength and weakness, and make data-driven decisions about training, coaching, and other performance improvement initiatives.

What Are the Most Common Performance Management Problems that Managers Deal with on the Job

Effective performance management is essential for the success of any organization, but managers often face common challenges when managing employee performance. These problems can include a lack of clear and measurable goals and expectations, inconsistent performance evaluations and ratings, ineffective feedback and coaching, failure to address poor performance and behaviour, and limited opportunities for growth and development. These issues can lead to disengagement, low morale, and reduced productivity. Effective performance management is critical to overcoming these challenges and achieving the desired outcomes. It requires managers to communicate clearly with their employees, provide timely and specific feedback, and create opportunities for growth and development, among other strategies.

How Can You Solve The Problems

One solution to these performance management problems is using performance management software. Such software automates performance management, enabling organizations to set and track goals, provide regular feedback, and measure employee performance more accurately. By automating these processes, performance management software can help ensure that the performance management process is consistent and transparent, improving employee morale and increasing productivity.

Moreover, performance management software can provide managers and employees with real-time performance data that can be used to identify trends and patterns and to track progress toward goals. This can help identify and address performance gaps early on, allowing for more targeted interventions to improve employee performance.

Frequently Asked Questions

Q1. Why is Hr management Software Important?

A. HR software is important because it allows HR teams to streamline and automate many day-to-day tasks and processes, such as managing employee records, tracking time and attendance, and processing payroll. This saves time, reduces administrative burden, and allows HR to collect and analyze data more effectively.

Q2. How Does Performance Management Software Make the Process Smooth?

A. Performance management software can make the performance management process more smooth by automating many steps, such as setting goals, providing feedback, and tracking progress. This can save time and reduce administrative burden while providing a centralized performance data and feedback platform.

Q3. How Easy is it to Setup Performance Management Software?

A. The ease of setting up performance management software will depend on the specific software chosen and the level of customization required. However, many performance management software tools are designed to be user-friendly and intuitive, with straightforward setup processes.

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16 Top Payroll Challenges for Small Businesses and How to Solve Them.

16 Top Payroll Challenges for Small Businesses and How to Solve Them. Compliances

Feb 272023

Small businesses face unique payroll challenges due to their limited resources and staff. One of the most significant payroll challenges for small businesses in compliance with federal and state payroll regulations. Small business owners must keep up with changing laws and regulations related to payroll taxes, wage and hour laws, and employee benefits, which can be time-consuming and costly. Another challenge is the complexity of payroll administration, especially for businesses with many employees. Managing payroll requires accurate record-keeping, timely processing, and ensuring that all taxes and deductions are correctly calculated and paid. Errors in payroll processing can result in fines and penalties, which can be especially damaging for small businesses.

Here are 16 top payroll challenges faced by small businesses:

Staying up-to-date with changing tax laws and regulations
Calculating and managing employee taxes, deductions, and benefits
Ensuring accurate and timely payment to employees
Dealing with payroll errors and correcting them
Keeping track of employee leave and paid time off
Managing employee classification and overtime pay
Compliance with wage and hour laws and regulations
Managing different pay rates for different employees or positions
Accurately tracking and reporting employee hours
Managing and processing employee expenses and reimbursements
Ensuring accurate record-keeping and documentation
Managing payroll for remote or distributed teams
Integrating payroll with other HR and accounting systems
Providing accessible payroll information and self-service options for employees
Ensuring the security and confidentiality of payroll data
Handling payroll in multiple states or jurisdictions.

What’s Important to Book-keepers When Processing Payroll

For book-keepers, processing payroll accurately and efficiently is of utmost importance. One critical aspect that bookkeepers focus on is ensuring that employees are paid correctly and on time. To do so, they need to keep track of various factors such as employee hours, overtime, taxes, and deductions. This process can be tedious and time-consuming, but bookkeepers can streamline the process significantly with attendance management software.

Attendance management software helps bookkeepers track employee attendance and monitor their hours worked. The software can automatically calculate and record employee hours, including overtime and breaks. This helps to minimize errors and saves time that would have been spent manually entering data. The software also enables bookkeepers to track employee absences, including sick days, vacation days, and personal time off, making it easier to deduct these days from an employee’s pay accurately.

Things you should know Before you Install Payroll Software

Before installing payroll software, it’s crucial to consider several factors, including integrating leave management software with payroll. Leave management software can help automate leave requests, approvals, and tracking of employee leaves. Integrating it with payroll software can help streamline the payroll process, including calculating leave balances and pay-outs and ensuring accuracy and compliance with applicable laws and regulations.

It’s also essential to check whether the payroll software is compatible with your company’s current payroll processes, especially regarding leave management. Some payroll software may not support specific leave policies, such as leave without pay or other paid or unpaid leave, which can lead to incorrect payroll calculations. Hence, it’s crucial to choose customizable payroll software that can accommodate different types of leave policies.

How can you Solve these Problems while using Payroll Software?

Payroll software can be a valuable tool for solving various problems related to payroll processing and management. One of the main benefits of payroll software is that it can help to automate many of the manual processes associated with payroll. This can help save time and reduce the administrative burden associated with payroll processing, improving accuracy and reducing the risk of errors.

Another benefit of payroll software is that it can help to ensure compliance with all relevant payroll regulations and requirements. Payroll software can automatically calculate taxes, deductions, and other withholdings and help you stay up-to-date with changes in tax laws and other regulations. This can reduce the risk of fines and penalties associated with non-compliance and give you peace of mind that your payroll processes are accurate and up-to-date.

Frequently Asked Question

Q.1 What are the basics of payroll?

A. Payroll is an integral part of any business. It involves tracking employee hours, calculating wages, taxes, insurance premiums, and other deductions while keeping records of payments and providing reports to the government. Understanding payroll basics will ensure your business runs smoothly and efficiently while keeping you compliant with local tax laws.

Q.2 How does a small business manage payroll?

A. Payroll is a complex task for small businesses. With limited resources and tight budgets, it cannot be easy to manage payroll without the help of a specialist. Fortunately, there are ways to simplify the process with technology and outsourcing services. This article will discuss how small businesses can manage payroll more effectively, from setting up accurate payment systems to finding solutions for payroll taxes.

Q 3 What are the biggest challenges in payroll?

A. Payroll is one of any business’s most critical and complex processes. It involves various tasks such as calculating employee wages, managing tax deductions, tracking vacation time, etc. Unfortunately, these tasks can be incredibly time-consuming and challenging to manage. As a result, many businesses are now turning to payroll software and AI writing assistants to help make the process easier and more efficient.

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Broad scheme of Tax Deduction at Source from “Salaries”.

Broad scheme of Tax Deduction at Source from “Salaries”. Compliances

Feb 142023

Every year an employer is obliged to deduct TDS from the salary payable by him to his employees. There are many practical difficulties faced by him in deducting TDS on estimated salary in determining the rate of TDS and estimated salary income on which such rate shall be applied. These difficulties are further increased due to amendments made by the authorities every year. Therefore an attempt is made to clarify all the practical difficulties faced by the employer.

1. Method of Tax Calculation

A. Every person who is responsible for paying any income chargeable under the head “Salaries” shall deduct income tax on the estimated income of the assessee under the head “Salaries” for the financial year 2022-23.

B. The income tax is required to be calculated on the basis of the rates given in the image attached to this blog.

C. Person deducted tax as above shall ensure that the provisions related to the requirement to furnish PAN or Aadhaar number, as the case may be, as per sec 206AA of the Act,

D. TDS u/s 192 shall be deducted at the time of each payment.

E. The tax paid by the employer shall be deemed to be TDS made from the salary of the It may be noted that tax liability may not be the same in case the employee opts for a concessional tax regime under section 115BAC of the Act. Thus, it is not always open to an employee to deduct the tax of an employee under the new tax regime as this option is open to employees at the time of filing income tax returns for the relevant assessment year.

F. Any employee intending to opt for the concessional rates of tax under section 115BAC of the Act may intimate the deductor, being his employer, of such intention for each previous year and upon such intimation, the deductor shall compute his total income, and make TDS thereon in accordance with the provisions of section 115BAC. The intimation made to the deductor shall be only for TDS during the previous year and cannot be modified during that year.

G. If such intimation is not made by the employee, the employer shall make TDS without considering the provision of section 115BAC of the Act.

H. No tax, however, will be required to be deducted at source in a case unless the estimated salary income including the value of perquisites is taxable after giving effect to the exemptions, deductions, and relief as applicable.

2. Salary payable in foreign currency:

I. For the purposes of deduction of tax on salary payable in foreign currency, the value in rupees of such salary shall be calculated at the “Telegraphic transfer buying rate” of such currency as on the date on which tax is required to be deducted at source (see Rule 26 and Rule 115).

3. Adjustment for Excess or Shortfall of Deduction

J. The provisions of Section 192(3) allow the deductor to make adjustments for any excess or shortfall in Tax deduction arising out of any previous deduction or failure to deduct during the financial year.

4. Case

The income chargeable under the head “salaries” of an employee below sixty years of age during the Financial Year 2021-22, is Rs. 6,00,000/- (inclusive of all perquisites), out of which, Rs. 50,000/- is an account of non-monetary perquisites and the employer opts to pay the tax on such perquisites as per the provisions discussed in para 3.2 above.

Income Chargeable under the head ―” Salaries” inclusive of all perquisites	Rs. 6,00,000/-
Tax as per normal rates on Total Salary (including Cess)	Rs. 33,800/-
Average Rate of Tax [(33, 800/6,00,000) X100]	5.63%
Tax payable on Rs.50,000/= (5.63% of 50,000)	Rs. 2815
The amount required to be deposited each month (subject to adjustments in tax payable on account of change in salary structure)	Rs. 235= 2815/12

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Compliance Calendar for February 2023.

Compliance Calendar for February 2023. Compliances

Jan 312023

Appended below is the Pan India Compliance calendar for February 2023, employer is under obligation to contribute towards some of the above-mentioned compliances for the welfare of the employees. Each of these compliances is again governed by a set of rules and formulas. It is proven to be a deliberate attempt to violate the provisions of the law, there could be imprisonment of the employer. Please, comply with the same in time to avoid any future non-compliance so that hefty penalties and fines are not charged by the respective dept.

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Why Is Recruitment Software So Important To An Organization?

Why Is Recruitment Software So Important To An Organization? Compliances

Jan 242023

In today’s competitive job market, recruitment software is crucial in helping organizations find the right talent. Recruitment software is a powerful tool that helps organizations manage their recruitment process efficiently. It allows them to automate the process of finding, screening, and hiring the right candidate for the job. Not only does it save time and money, but it also ensures that the organization finds the best talent available. The software also helps organizations track their progress and ensure they are constantly updated with their recruitment efforts. It can streamline onboarding processes, manage job postings, and analyze data from past recruitment efforts. With this information, recruiters can make better decisions when hiring candidates. By using recruitment software, organizations can ensure that they are getting the most qualified candidates for each job opening. By utilizing recruitment software, organizations can save time and money while ensuring that they are finding the best candidates for their open positions.

What is Recruitment Management System

A recruitment management system (RMS) is software that helps organizations automate and streamline their recruitment process. It is designed to handle all aspects of the recruitment process, from sourcing and attracting candidates to scheduling interviews and onboarding new hires.

Some standard features of an RMS include:

Job posting and applicant tracking
Resume and application management
Interview scheduling and management
Candidate communication and collaboration tools
Onboarding and new hire paperwork management
Reporting and analytics

An RMS can be a standalone system or integrated with other HR systems, such as a human capital management (HCM) system. HR departments and recruitment agencies often use it to manage and track job openings, resumes, and candidates.

How Does Recruitment Software Work

Recruitment software is a powerful tool that can help organizations streamline their recruitment process. It helps employers find suitable candidates faster and more efficiently. The software collects and analyzes data from job postings, resumes, and other sources to identify potential job candidates. It then uses algorithms to match the best candidates to the positions they are applying for. Additionally, it can automate many administrative tasks associated with recruitment, such as scheduling interviews and sending out notifications. This helps save time and money while ensuring that only qualified applicants are considered for a position.

One of the most important features of recruitment software is employee self service. This feature allows employees to access their information and submit applications directly from their computers or mobile devices. This eliminates manual data entry and speeds up the recruitment process significantly. It also makes it easier to keep track of employee information, such as resumes, job history, references, etc., which can be used in future recruitment efforts.

What Benefits Come From Using Recruitment Software?

Recruitment software can be an excellent asset for any organization that wants to improve its performance management. It allows employers to quickly and efficiently track the performance of their employees and identify areas for improvement. Performance management software can also help organizations track employee performance over time, providing insight into areas where improvement is needed.

There are several benefits to using recruitment software, including:

Increased efficiency and productivity: Recruitment software can automate and streamline various aspects of the recruitment process, such as resume screening and interview scheduling, which can save time and resources for organizations.
A larger pool of candidates: Recruitment software can enable organizations to source candidates from a broader range of job boards and career websites, potentially increasing the chances of finding the best fit for the job.
Improved organization and standardization: The software can help organizations standardize and organize their recruitment process, making tracking and managing candidates and job openings easier.
Better analytics and metrics: Recruitment software can provide valuable analytics and metrics, such as time-to-hire and source of hire, which can help organizations optimize their recruitment efforts.
Compliance with equal opportunity and anti-discrimination laws: The software can help organizations comply with equal opportunity and anti-discrimination laws and regulations.

Overall, using recruitment software can help organizations improve the quality and efficiency of their recruitment process, which can ultimately lead to better hiring outcomes and a more vital workforce.

Frequently Asked Questions

Q. What are the main features of recruitment software?

A. Recruitment software is essential for any HR department, providing a streamlined way to find and hire the best candidates for the job. It helps recruiters to manage their recruitment process more efficiently and effectively. The main features of recruitment software include applicant tracking, automated screening, job posting, resume database search, candidate communication tools, interview scheduling, and assessment tools.

Q. How does recruitment software make the recruitment process more efficient?

A. Recruitment software is an automated solution that helps organizations to streamline their recruitment process. It enables recruiters to post job openings quickly, source candidates, evaluate resumes, and track the progress of each candidate. Automating the recruitment process makes it easier for recruiters to find the right candidate for a job in a shorter amount of time.

Q. What are the benefits of using a recruitment software system?

A. The benefits of using a recruitment software system include better visibility into job openings, quicker turnaround times for applications, and an easier way to manage applicants. It also provides employers with a more comprehensive view of potential candidates so they can make informed decisions about who to hire.

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Sales in case of stock broker and sub-broker.

Sales in case of stock broker and sub-broker. Compliances

Jan 162023

Every assessee carrying on business shall get its accounts audited if certain conditions are fulfilled and the same is true in the case of stockbroker and/or sub-broker. The principles enumerated below are equally important for considering the account amount of sale in their profit and loss account.

Rules to consider a transaction as sale in case of stock broker / sub-broker

Share brokers, on purchasing securities on behalf of their customers, do not get them transferred in their names but deliver them to the customers who get them transferred in their names.

The same is true in the case of sales also. The share broker holds the delivery merely on behalf of his customer. The property in goods does not get transferred to the share brokers.

Only brokerage which is being accounted for in the books of account of share brokers should be taken into account for considering the limits for the purpose of section 44AB.

However, in the case of transactions entered into by the share broker on his personal account, the sale value should also be taken into account for considering the limit for the purpose of section 44AB.

The case of a sub-broker is not different from that of a share broker as far as accounting of revenue from broker activities is concerned.

Explanations

In CIT v. Lallubhai Nagardas & Sons (1993) 204 ITR 93 (Bom) it was held that the transactions of sale purchase of shares done by the assessee as a stockbroker for and on behalf of his constituents were far in excess of the ceiling limit specified in section 44AB. If such transactions are to be considered as sales and turnover of the assessee, the case would be hit by the mischief of section 44AB. The point to be considered is the nature of the function and activities of a broker or an agent who brought the seller and buyer of the equity market together.

The word ‘turnover’ as appearing in section 44AB is not appropriate to the transaction which is done by an agent in the way of bringing together a buyer and a seller for brokerage or commission.

As a share broker, the assessee does not have any interest whatsoever in the goods agreed to be purchased or sold on behalf of his constituents.

In fact, a share broker is subject to the rules and regulations of the stock exchange, whose work is monitored and overseen by the SEBI so as to ensure transparency in the transactions entered into by the share broker on behalf of his principals.

Insofar as a share broker is concerned, he has no authority whatsoever to treat the goods as his own. His only interest in the goods is to receive his brokerage on the transaction from the principals.

The share broker would, therefore, not obviously come within the ambit of section 44AB.

Analysis of sale (form No 3CD)

It would be useful to refer to the format of Form No. 3CD which contains the particulars required to be furnished by the assessee for the purposes of section 44AB.

Item at Serial No. 32 of the form refers to several accounting ratios like gross profit/turnover, net profit/turnover, and stock-in-trade/turnover. Obviously, the accounting ratio envisages the own turnover of the assessee, i.e., the realization of the sale price by the assessee in his own account which is to be considered for the purposes of arriving at the gross profit margin.

However, if the stockbroker is also engaged in buying and selling shares in his personal account then the sale value of such shares is also to be taken into account and aggregated with the brokerage to determine the limit specified in section 44AB.

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Implement A Performance Management Process In Your Company.

Implement A Performance Management Process In Your Company. Compliances

Jan 102023

Performance management is an essential aspect of employee life. It can assess and improve performance, give feedback, identify training needs, and reward outstanding performance. Performance management helps employees achieve their goals by providing feedback on how they are performing in their job. It also gives employees a chance to review the company’s expectations for them and decide if they are meeting those expectations. It can help employees make improvements or changes in how they do things that will increase productivity or improve the quality of work.

Managers need to understand what they should look for when evaluating an employee’s performance and what kind of feedback should be given at each level. Managers should also know what type of rewards they can give out based on the level of performance that has been achieved.

How does the performance management system work?

Performance management systems are used to measure employees’ performance to reward or sanction them. The system is usually based on a set of objectives that both the employer and the employee have already agreed on. Performance management systems help organizations in many ways: they help with the recruitment process, they help with staff retention, they help with developing better leaders, etc. These objectives are typically grouped into categories such as ‘quality,’ ‘efficiency,’ and ‘customer focus.’

Performance management software is a system that helps HR teams and managers manage their employees’ performance. The system is based on various metrics used to measure employee performance. The metrics can vary from one organization to another, and the company’s strategy usually determines them.

An attendance management software helps to track employee attendance. This software has many benefits, such as increased productivity, reduced absenteeism, and improved quality of service.

What are the five stages of performance management?

Performance management is a process that every company should have in place. It helps managers and employees understand how they are doing and what they need to do to improve their jobs.

There are five stages of performance management:

– Setting goals-: Think about the results you want to see. Before you set a goal, take a closer look at what you’re trying to achieve.

– Monitoring progress-: Continuously measuring performance and providing feedback on progress toward the goals.

– Providing feedback-: Note opportunities for improvement.

– Taking corrective action-: Interacting with the employee to improve performance or behavior.

– Reaching the goal-: To provide a clean and consistent working environment for both managers and staff, which will ultimately result in higher productivity.

How to evaluate employee performance

To evaluate an employee’s performance, Having a system in place is essential. One way to do this is by assigning specific tasks or goals and evaluating them regularly. Performance management software is a solution that helps companies to evaluate their employees’ performance. It provides a detailed overview of the employees’ work, what they do best and what they need to improve. It also allows managers to provide feedback and coaching.

Evaluating the performance of employees is a crucial component of the success of any company. It is essential to know how each employee performs on different tasks and how their performance changes over time. Leave management software lets you know how much time your employees have left for their leaves.

Frequently Asked Questions:-

Q. What is a performance management implementation plan?

A. A performance management plan can help guarantee that individuals achieve their performance objectives and that those goals are consistent with those of the company.

Q. Why do you need to implement a performance management system?

A. Businesses need effective performance management. They are able to integrate their systems, resources, and personnel with their strategic goals through both official and informal approaches.

Q. What is a performance management process?

A. An employee’s job objectives and general contribution to the company are planned, monitored, and reviewed by managers and employees through the performance management process.

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TDS on Purchase of Immovable Property from Non-Residents.

TDS on Purchase of Immovable Property from Non-Residents. Compliances

Jan 062023

1. Rate of TDS deduction.

According to section 195(1), any person responsible for paying to a non-resident, not being a company, or to a foreign company, any interest other than interest referred to in section 194LB or section 194LC or section 194LD or any other sum chargeable under the provisions of this Act other than salary shall, at the time of credit or at the time of payment, whichever is earlier, deduct income-tax thereon at the rates in force.

As per section 2(37A) (iii), the TDS rate under section 195 would be the rate of income tax as specified in —

(a) Finance Act of the relevant year; or

(b) Double Taxation Avoidance Agreement entered by Central Government under section 90; or

whichever is most beneficial shall apply.

In case of payment to non-residents TDS shall be increased by surcharge and cess if applicable.

Thus when a person resident in India makes any payment to a non-resident on the purchase of immovable property they shall deduct tax as per provision of section 195.

2. No deduction or deduction at a lower rate.

For this purpose, the payee (non-resident seller) has to make an application in Form 13 to the assessing officer.

3. Tax required to be deducted while making payment.

When a property is sold by the non-resident TDS liability would depend upon the nature of capital gain arising in such transaction. The following points need to be considered for TDS deduction on such payment.

he was not aware of the fact that he was liable to deduct tax at source while making payment to a non-resident could not be accepted where it was clear from agreement to sale (ATS) that the seller was a non-resident.
Where the assessee payer failed to deduct TDS from the payment made to non-residents and also failed to obtain a certificate for non-deduction of tax, he will be treated as assessee-in-default under section 201(1).
Payments made by the assessee payer towards the purchase of property to two parties on behalf of the non-resident seller constitute the payments made to the said non-resident seller and hence, the tax was deductible under section 195.
Payment is made for the purchase of the property being jointly owned by P, a non-resident, and S, a resident in equal shares. However total consideration is paid to S. P was admittedly, a non-resident and to the extent of Rs. 60 lakhs paid to her via S, the provisions of section 195 were attracted and the assessee ought to have deducted tax at source while making payments to the non-resident through S.

4. Payment is made through the General power of attorney (GPA) holder.

Assessee payer had purchased an immovable property from the NRIs, the liability to deduct tax at source under section 195 could not be done away with merely because the assessee had paid the sales consideration in India to GPA.
Assessee paid certain sums to one P for purchasing land. P was the power of attorney holder on behalf of five non-resident co-owners. P was a resident and an agreement was entered into with P for purchasing land by the assessee. In these circumstances, the power of attorney holder was not merely acting as an agent of the non-residents to receive money but as a person who had the right to alienate the land by the virtue of rights vested in him by the power of attorney signed by the co-owners. Provisions of section 195 were, therefore, not attracted.

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COMPLIANCE CALENDAR FOR THE MONTH OF JANUARY 2023.

COMPLIANCE CALENDAR FOR THE MONTH OF JANUARY 2023. Compliances

Jan 042023

Appended below is the Pan India Compliance calendar for January 2023, employer is under obligation to contribute towards some of the above-mentioned compliances for the welfare of the employees. Each of these compliances is again governed by a set of rules and formulas. It is proven to be a deliberate attempt to violate the provisions of the law, there could be imprisonment of the employer. Please, comply with the same in time to avoid any future non-compliance so that hefty penalties and fines are not charged by the respective dept.

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