Articles by CA.Sangam Aggarwal

Common Mistakes in Financial Statements of Non-Corporate Entities & CA Audit Assignment Limits

CA.Sangam Aggarwal 14 May 2025 at 08:40

Financial statements are the cornerstone of assessing the financial health and compliance of any business entity, including non-corporate forms such as proprietorships, partnerships, and HUFs.

Simplified Taxation for Small Businesses: Understanding the Composition Scheme under CGST Act, 2017

CA.Sangam Aggarwal 02 May 2025 at 08:35

Under the CGST Act, 2017, businesses are required to obtain GST registration once their aggregate turnover exceeds the prescribed threshold limits - Rs. 40,00,000 for suppliers of goods and Rs. 20,00,000 for providers of services.

Mistakenly Paid 5% TDS Instead of 2%? Here's How to Claim a Refund via TRACES

CA.Sangam Aggarwal 30 April 2025 at 08:40

This step-by-step guide walks you through the complete process of claiming a refund for excess TDS deducted on rent via Form 26QC on the TRACES portal, ensuring compliance and timely recovery of overpaid taxes.

Old vs New Tax Regime: How to Choose the Best for FY 2025-26

CA.Sangam Aggarwal 28 April 2025 at 08:29

In this article, we will explore both tax regimes, compare the available exemptions and deductions, and help you make an informed decision based on your income structure and eligible benefits.

Format of Financial Statements for Non-Corporate Entities

CA.Sangam Aggarwal 23 April 2025 at 08:36

Accounting Standards issued by the Institute of Chartered Accountants of India (ICAI) act as a pillar for sound financial reporting system of an entity.

New Invoice Management System (IMS) in GST

CA.Sangam Aggarwal 17 February 2025 at 07:34

IMS was developed by GST Council and GSTN (Goods and Services Network) and it was launched on 1st October 2024, made available to users on 14th October for ITC computation and claim process.

An Overview of Real Estate (Regulation and Development) Act (RERA), 2016

CA.Sangam Aggarwal 07 February 2025 at 08:45

An Overview of Real Estate (Regulation and Development) Act (RERA), 2016IntroductionIn today’s world, every person purchase immovable property from Real

Key Proposals of Union Budget 2025 - Income Tax

CA.Sangam Aggarwal 04 February 2025 at 08:51

Key Amendments proposed in Budget 2025 (Income Tax)

Tax Implications on purchase and sale of Immovable Property

CA.Sangam Aggarwal 22 January 2025 at 08:45

The purchase of immovable property is not just a strategic investment but also a transaction laden with tax implications under various provisions of the Income Tax Act, 1961.

All about Direct Tax Vivad Se Vishwas Scheme (DTVSV), 2024

CA.Sangam Aggarwal 29 October 2024 at 08:37

The Direct Tax Vivad se Vishwas Scheme, 2024 was introduced with the objective of providing a mechanism of settlement of disputed issues, thereby reducing litigation without much cost to the taxpayer.