Articles by CA Umesh Sharma

Karniti Part-20: Salary earners now "Dent" in claiming Allowance of "House Rent"

Posted by CA Umesh Sharma 21 January 2014 20557 Views

Salary earners there is now "Dent" in claiming Allowance of "House Rent" Arjuna(Fictional Character): Krishna, all the salaried people might be busy in providing information to their employers for computing income tax, deductions and exemptions from

Karniti Part-19: Kite Fight between Taxpayer & IT Dept

Posted by CA Umesh Sharma 15 January 2014 17740 Views

Arjuna (Fictional Character): Lord Krishna, all are happy and enjoying as two festivals Makar Sankranti and Eid are coming together. Children are busy flying colorful kites in the blue sky. Kites o

Karniti Part-18: Beware of Stamp duty value of Immovable property

Posted by CA Umesh Sharma 06 January 2014 41434 Views

Beware, Adhere to Stamp duty valuation of Immovable property under Income tax. Arjuna (fictional character): Krishna, It is astonishing that on 1st January Government instead of giving gift of New Year to the taxpayers, it increased Stamp Duty Value

Karniti Part-17: Let's review major 13 tax & law events of 2013

Posted by CA Umesh Sharma 30 December 2013 22611 Views

Lets review 13 major developments in Tax & other laws of 2013Arjuna (fictional character): Krishna, Year 2013 is coming to end and New Year 2014 will begin soon. Time passes so quickly! While discussing various issues on tax laws, we did n

Karniti Part-16: Tax planning for Children is not a child's play

Posted by CA Umesh Sharma 23 December 2013 28160 Views

Income Tax planning for Childrens is not a childs play.Arjuna (fictional character): Dear Krishna, the festival of Christmas is being celebrated all over the world very joyfully. In this festival Santa Clause make exchange of gifts to a

Karniti Part-15: MVAT Audit Some Beliefs and Misbeliefs

Posted by CA Umesh Sharma 17 December 2013 24687 Views

Arjuna (fictional character): Krishna, In Maharashtra State, under Maharashtra Value Added Tax Act, VAT audit in FORM 704 is mandatorily required to be carried out and e-filed before 15th January 2014 for the fin

Karniti Part-14: Why, Carrot to Service tax defaulters and sticks to followers?

Posted by CA Umesh Sharma 10 December 2013 18701 Views

Why, Carrot to Service tax defaulters and sticks to followers? Arjuna (fictional character): O Lord Krishna, Why Honble Finance Minister is promoting the Voluntary Compliance Encouragement Scheme of Service Tax so much? Lord Krishna (fictional

Karniti Part-13: Dear, Pay tax on "House" and Relax at "Home"

Posted by CA Umesh Sharma 03 December 2013 20033 Views

Taxation on Purchase or Sale of House PropertyArjuna(fictional character): O Lord Krishna, food, clothes and house, being the basic necessities of life, hold an important place in human life. But nowadays lot of money is needed to buy or construct a

Karniti Part-12: Income of Trusts, then follow & trust Indian law

Posted by CA Umesh Sharma 26 November 2013 20519 Views

Finance and Income Tax of Charitable TrustsLet us try to get answers to our questions in a bit different and joyful manner. The fictional character of Arjuna will be played by the common man or tax payer and the fictional character of Krishna the Exp

Karniti Part:11 "Sachin" like Retirement & its Financial Planning

Posted by CA Umesh Sharma 18 November 2013 22888 Views

Karniti Part 11 (Sachin Tendulkar Special)Sachin like Retirement and its Financial PlanningKeeping conversation between Lord Krishna and Arjuna as the foundation we will learn certain basic financial and tax matter. Let us try to get an