Articles by CA Umesh Sharma

Latthmar Holi of GST & Floral Holi of Income tax!!

CA Umesh Sharma 09 March 2020 at 11:22

The tax department is alL ready to play different types of Holi with the taxpayers, of which the Income Tax department will be playing the Floral holi (Foolonki holi) and the GST department will be playing Latthmar Holi.

How to plan for Foreign Travel and its TCS under Income tax w.e.f. 01.04.2020?

CA Umesh Sharma 05 March 2020 at 10:31

How to plan for Foreign Travel and its TCS under Income tax w.e.f. 01.04.2020?

Beware! No Entry for false entry in Income Tax and GST!!

CA Umesh Sharma 25 February 2020 at 10:19

Several cases of fraudulent claim input tax credit (ITC) have been caught by the GST authorities. Considering the same, in Union Budget 2020 it has been proposed to take massive steps to curb issuance of fake invoices. To curb issuance of fake invoices, New penalty section 271AAD has been proposed to be inserted in the Income Tax Act through Finance Bill, 2020.

GST Taxpayers!! - Arise and Fight against Injustice of Interest Charged

CA Umesh Sharma 17 February 2020 at 10:05

CBIC asked the tax officers to collect tax on the Gross Tax Liability. Post this the taxpayers raised concerns that the interest should be calculated on the net tax liability as proposed in the Union Budget by the FM by way of amendment in Section 50 of the CGST Act, however, the CBIC clarified that the effect of such amendment will be prospective.

20 Googly Balls of Budget 2020 that can take Taxpayer's wicket

CA Umesh Sharma 03 February 2020 at 11:03

20 Googly Balls of Budget 2020 that can take Taxpayer's wicket

Taxpayers Parade : Beware of Anti-Tax Evasion Weapons

CA Umesh Sharma 27 January 2020 at 10:58

Over the past few months GST and Income Tax departments have been sending notices to the taxpayers to increase the collection of Revenue

How to correct mistakes in GST by DRC-03? Its impact on GST Audit?

CA Umesh Sharma 21 January 2020 at 10:49

This article explains how to correct mistakes in GST by DRC-03. How DRC-03 can be used to pay the additional tax liability, for reversal of input tax credit, to claim ITC if missed, etc. It also explains all the details to be given in DRC-03.

How will taxpayers fly their Kite of Income Tax Return this Sankranti?

CA Umesh Sharma 14 January 2020 at 12:11

How will taxpayers fly their Kite of Income Tax Return?

20 things to keep in mind in 2020 by taxpayers

CA Umesh Sharma 07 January 2020 at 10:12

20 things to keep in mind in this year 2020 by taxpayers

New Year at last brings revised GST Audit Form

CA Umesh Sharma 31 December 2019 at 10:18

Read this beautiful conversation between Arjuna and Krishna. Where Krishna tells Arjuna about all the recent changes in the GSTR-9C offline utility forms updated on the 24th of December, 2019.