Articles by CA Umesh Sharma
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Income Taxpayers Will Face the Heat of Reassessment!
The income tax department had issued notices u/s 148 for reassessment proceedings. CBDT's notification No. 20/2021, dated 31-03-2021extended the last for issuance of notice u/s 148 upto 30.06.2021. The Assesses challenged the validity of such notices in High Courts and relief was granted to Assesses to which Special Leave Petition was filed by CBDT.
Now Agriculture Income Under Strict Scrutiny
CAG has prepared a report on Assessments Relating to Agriculture Income which was presented in the 49th report of the Public Accounts Committee which clearly stated that the rich farmers whose agriculture income exceeds Rs 10 lakh per year limit, will face stricter scrutiny of agricultural income.
Maharashtra Settlement of arrears of Tax, Interest, Penalty, or Late Fees Scheme 2022
The Maharashtra Government has introduced the scheme in the L.A. BILL No. IX of 2022 to settle old disputes. Considering the same, the government has introduced disputes between the Maharashtra government and taxpayers.
Important Things of GST to Remember This March 2022 ending!
The author lists down the points on which the taxpayers need to pay attention at the end of financial year for GST
Recommendations in 45th GST Council Meeting
Recommendations in 45th GST Council Meeting
Maharashtra settlement of arrears of Tax, Interest, Penalty or Late Fees Scheme 2022
Maharashtra Government has introduced various schemes in the Budget to settle old disputes. Considering the same, the government has introduced an scheme to solve disputes between Maharashtra government and taxpayers.
Extension of IT Due Dates
Extension of Income Tax Due Dates
Women related Income tax and financial benefits
Let's discuss the life journey from a girl child to a woman, and what are the rights, Income tax benefits, and other benefits available to women in Indian laws....
Welcome Internal Circular of MH state on GST mismatch issues
Internal circular has been issued by Maharashtra State GST department on 25/02/2022. The circular has been issued to give guidelines with respect to legal issues pertaining to return scrutiny for tax periods 2017-18 and 18-19.
Updated Return- Advantages and Disadvantages
Government is trying to provide an opportunity to taxpayers to disclose their income which was previously omitted to be disclosed, and on the other hand will also generate additional revenue for the government. It will facilitate ease of compliance to the taxpayer in a litigation free environment.
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