Articles by CA Umesh Sharma

Which Tax Changes have given Financial Freedom to Taxpayers and which have restricted it?

Posted by CA Umesh Sharma 18 August 2026 75 Views

On India's 80th Independence Day, explore how recent Income Tax and GST reforms have increased taxpayer freedom through simplification and relief while introducing stricter digital compliance, transparency and enforcement measures.

Which Business Expenses are Allowed and Which are Disallowed while Filing ITR?

Posted by CA Umesh Sharma 11 August 2026 732 Views

Know which business expenses are allowed and disallowed under Income Tax law. Learn about TDS, cash payment limits, depreciation, personal expenses, compliance rules, and common mistakes that can increase tax liability.

Who Must File ITR by 31st August? Find Out Now!

Posted by CA Umesh Sharma 04 August 2026 1397 Views

Discover who needs to file their Income Tax Return (ITR) by the 31st August deadline. Learn about ITR forms 3, 4, and 5 for non-audit businesses and professionals.

ITR Filing Deadline 31st July: Are You Ready?

Posted by CA Umesh Sharma 28 July 2026 590 Views

Don't miss the 31st July ITR deadline for FY 2025-26! Learn about late fees, interest, loss carry-forward, and why timely filing is crucial for salaried taxpayers.

Foreign Income Now in Your AIS: Stay Compliant!

Posted by CA Umesh Sharma 21 July 2026 237 Views

Your foreign income and assets are now visible in your AIS. Learn how to report them correctly and avoid penalties. Stay compliant!

Two Employers, One Tax: Salary Tax Guide

Posted by CA Umesh Sharma 14 July 2026 761 Views

Switching jobs? Earn from two employers? Learn how to manage salary tax, TDS, and Form 12B to avoid penalties. File your ITR correctly.

Salaried Tax Guide: Deductions, Rebates & Zero Tax Limit

Posted by CA Umesh Sharma 07 July 2026 1056 Views

Understand your salaried tax! Learn about standard deductions, Section 87A rebate, zero-tax income limits, and choose the best tax regime for maximum savings.

Salaried Tax Return: Key Changes Before 31st July

Posted by CA Umesh Sharma 30 June 2026 178 Views

Salaried individuals: Understand crucial ITR-1 & ITR-2 changes for AY 2026-27. Choose the right form, claim deductions accurately, and file by 31st July.

Advance Tax June 2026: New Act Checks Before Payment

Posted by CA Umesh Sharma 16 June 2026 262 Views

Prepare for the June 15, 2026, advance tax instalment under the Income Tax Act 2025. Learn key checks and common errors to avoid.

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

Posted by CA Umesh Sharma 09 June 2026 1802 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.