Articles by CA Umesh Sharma

Understanding Income Tax and GST for Mandal's and Religious Temples!

Posted by CA Umesh Sharma 09 September 2024 1119 Views

While the focus is on devotion and charity, religious and charitable entities such as Ganpati mandals and temples should also be mindful of their tax obligations.

Who is Required File Tax Audit Report before September?

Posted by CA Umesh Sharma 02 September 2024 1169 Views

The last date to file the Tax Audit Report is 30th September of the assessment year. It is crucial to adhere to the deadlines to avoid any penalties

Bursting the Handi of Fake GST Registration!!

Posted by CA Umesh Sharma 26 August 2024 730 Views

Celebrate Janmashtami with Krishna's wisdom on good triumphing over evil. Discover the government's second special drive against fake GST registrations and its role in combating fraud in the GST system, much like breaking the Dahi Handi to reveal hidden treasures.

Bandhans on Accepting Gifts on Raksha Bandhan!!

Posted by CA Umesh Sharma 19 August 2024 1363 Views

On this special day, many brothers and sisters exchange gifts as a token of their love and bond. But what about the tax implications of these gifts?

Capital Assets Indexation- It's Gain and Pain!!

Posted by CA Umesh Sharma 13 August 2024 1128 Views

The restoration of indexation benefits is a significant development, especially for those dealing with the transfer of land and buildings.

Big Relief for Taxpayers: Budget 2024 Proposes New Section 128A to Waive GST Interest and Penalties

Posted by CA Umesh Sharma 05 August 2024 2823 Views

The Hon'ble Finance Minister has recently presented the budget for 2024, which has brought about many proposals of changes in the Tax laws, there have been talks about the proposed insertion of a new section, Section 128A, in the GST laws.

5 Most Important Proposals in Capital Gains in Budget 2024

Posted by CA Umesh Sharma 29 July 2024 1556 Views

Arjuna (Fictional Character): Krishna, The Hon'ble Finance Minister has recently presented the budget for 2024, which has brought about many proposals of change...

What if ITR is not Filed before 31st July 2024?

Posted by CA Umesh Sharma 22 July 2024 1430 Views

Due date for filing of Income Tax Return for Individuals is 31st July, but still, many people around the nation have not filed their Income Tax Return. What are the implications of not filing the ITR on time?

Who Should File ITR even when Income is Below Exemption Limit?

Posted by CA Umesh Sharma 16 July 2024 1323 Views

Arjuna (Fictional Character): Krishna, the due date for filing of Income Tax Return for Individuals is 31st July, however still many people around the nation ha...

Share Market at Record High, But my Portfolio is not! Why?

Posted by CA Umesh Sharma 09 July 2024 735 Views

Sensex has touched a record high of 80,000 this past week. While this seems like a remarkable achievement, many investors are worried as their portfolios are not reflecting these all-time highs? Why such?