Articles by CA Umesh Sharma

Bandhans on Accepting Gifts on Raksha Bandhan!!

CA Umesh Sharma 19 August 2024 at 11:14

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!!

CA Umesh Sharma 13 August 2024 at 08:40

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

CA Umesh Sharma 05 August 2024 at 14:05

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

CA Umesh Sharma 29 July 2024 at 12:46

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?

CA Umesh Sharma 22 July 2024 at 14:05

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?

CA Umesh Sharma 16 July 2024 at 08:37

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?

CA Umesh Sharma 09 July 2024 at 08:41

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?

7 Wonders of the GST World

CA Umesh Sharma 01 July 2024 at 08:33

Today 1st July 2024 marks the completion of 7 years from the implementation of GST law in the country. The taxpayers have seen huge revolutions in the indirect tax regime of the country in these 7 years.

Most Popular Recommendations from 53rd GST Council Meeting!

CA Umesh Sharma 24 June 2024 at 13:29

The 53rd GST Council Meeting was held on 22nd June 2024, wherein the focus was on discussing matters concerning Trade Facilitation & Providing Relief to Taxpayers. Key Recommendations made by the council like waiver of interest & penalty for a specified period & Introduction of GSTR 1A will surely be music to the ears of the taxpayers.

Don't Slip in this Income Tax Cum Rainy Season!!

CA Umesh Sharma 18 June 2024 at 08:43

Income Tax Forms are now available for filing returns before the due date of 31st July 2024. One should be prompt in tax compliance and shall take proactive steps to ensure his Income Tax return is filed not only within the due date but also all particulars have been duly considered in his return.