Articles by CA Umesh Sharma

Received a Family Gift? Check the New 'Relative' Definition Under Income Tax Act 2025

Posted by CA Umesh Sharma 09 June 2026 1540 Views

Understand how the Income Tax Act, 2025 redefines "relative" for gift taxation. Learn which family gifts remain tax-free, the inclusion of maternal relatives, HUF provisions, and why gifts from cousins, nephews and nieces may still attract tax.

New E-Way Bill changes that every taxpayer must be aware!

Posted by CA Umesh Sharma 02 June 2026 3693 Views

GSTN introduces major E-Way Bill changes from May 2026, including mandatory Ship To GSTIN details and a voluntary E-Way Bill Closure Facility. Learn the new compliance requirements, benefits and impact on businesses under GST.

Plan your Finances carefully in this war crisis!!

Posted by CA Umesh Sharma 26 May 2026 323 Views

FY 2026-27 begins amid inflation and the West Asia crisis. Learn smart tax planning, funding options, GST/TDS compliance and financial discipline tips for taxpayers and businesses.

Pack Your Bags, But Don't Forget the Tax Rules!

Posted by CA Umesh Sharma 19 May 2026 938 Views

Planning a summer vacation? Know the tax rules on LTA, foreign travel TCS, company-sponsored trips and tax regime impact in India.

Whether TDS payments are more Tedious or Easy under the new Act

Posted by CA Umesh Sharma 12 May 2026 436 Views

Income Tax Act 2025 introduces Single Challan facility for TDS payments from April 2026. Learn new Section 393 codes, updated TDS rates, compliance rules and how taxpayers can avoid payment errors under the new system.

Old Fights, New Rules: How the 2025 Act Protects Pending Litigations

Posted by CA Umesh Sharma 05 May 2026 712 Views

Understand how pending tax appeals, searches, and revision proceedings are handled under the new Income Tax Act, 2025. Learn why taxpayers don't need to restart litigation and how continuity under the 1961 Act is preserved for past assessment years.

Importance of 30th April for TDS on payment to Partners

Posted by CA Umesh Sharma 28 April 2026 3791 Views

Understand Section 194T of the Income-tax Act, 1961 for partnership firms, applicability, TDS rates, Rs 20,000 threshold, April 30 deadline and penalties for non-compliance in FY 2025-26.

TDS under IT Act 2025: New Sections, Same Rates, Zero Confusion

Posted by CA Umesh Sharma 21 April 2026 3897 Views

Explore key TDS changes under the Income Tax Act, 2025 effective April 1, 2026. Learn about new sections, forms, and compliance steps for a smooth transition.

Important things to know about New Income Tax Act 2026 Transition

Posted by CA Umesh Sharma 15 April 2026 998 Views

India's new Income Tax framework from April 1, 2026 simplifies laws with fewer sections, unified forms, and revised timelines. Explore key procedural changes, ITR filing rules and compliance updates taxpayers must know.

The Great Tax Migration: Bridge Between IT Act 1961 and IT Act 2025

Posted by CA Umesh Sharma 08 April 2026 361 Views

Income Tax Act, 2025 transition explained: Key FAQs on dual compliance, TDS rules, loss carry forward, MAT credits, and taxpayer action plan from April 1, 2026....