"Hi I am a qualified Chartered Accountant (CA) from the Institute of Chartered Accountants of India (ICAI). Having experience of more than 13 years in different companies, including subsidiaries of Indian companies in the US/Singapore/UAE. Areas in which I have worked in the last 13 years include Financial accounting (Indian Gaap, US GAAP, and IFRS), Financial Analysis and Planning, Management Accounting, Budgeting, Compliance of Taxes, Project Financing, etc. I have expertise in accounting software like Tally, Quickbooks, Navision, SAP Busy, Zoho, etc. Apart from my prior experience have worked extensively on Microsoft office and especially on Excel and customized dashboards. My expertise includes but is not limited to Bookkeeping, Daily MIS, Data analysis, Reconciliation, Invoicing Management, Debtors and Creditors Reports, or Consultation, etc. "
A new section 194Q, has been introduced in Finance Act, 2021, to the Income Tax Act, which requires a buyer to deduct TDS of seller, while purchasing of goods. This section will be applicable from 1st Jul, 2021. As we have seen, last year, a similar provision of section 206C(1H) was introduced, where seller needs to collect TCS from buyer on sale of goods.
