Articles by CA Umesh Sharma

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Why filing of Income Tax Return before 31st July is Important?

Posted by CA Umesh Sharma 06 July 2016 19522 Views

Details on who are required to file income tax return before 31st July and what care they should take before filing it

Burden of TCS on sale or purchase in cash?

Posted by CA Umesh Sharma 28 June 2016 14095 Views

Arjuna (Fictional Character): Krishna, the government has brought the provision of TCS (Tax Collected at Source) on sale of every product or service in income t...

Child worried about education. Parents worried about its taxation

Posted by CA Umesh Sharma 21 June 2016 3178 Views

Now-a-days it is not clear that whether education has become a business or business has become education. Therefore parents should not go only on the appearance and evaluate the actual conditions and then select the school and college.

Now everyone has to pay 1st installment of advance tax before 15th June!

Posted by CA Umesh Sharma 14 June 2016 12568 Views

From F.Y 2016-2017 the first installment of advance tax will have to be paid on or before 15th�June and later the remaining in aforesaid 3 installments.

PAN-IC! PAN compulsory on all Sales or Purchase of goods or services above Rs 2 Lac

Posted by CA Umesh Sharma 07 June 2016 7248 Views

Arjuna(Fictional Character): Krishna, from 1st January 2016 onwards PAN is required to bequoted in sale or purchase transaction exceeding Rs.2 lakh. Which is this hidden income tax provision?Krishna(Fictional Character): Arjuna, Income tax Department

Get ready for the shower of changes in Tax laws from 1st June 2016!

Posted by CA Umesh Sharma 03 June 2016 18487 Views

Arjuna (Fictional Character): Krishna, this year, the government has brought various changes in income tax, service tax and other tax laws and also has brought scheme for tax payment. It is said that many of such changes will be effective from 1st Ju

Beware: tax evaders take bath in this "Kumbhmela" of income declaration scheme 2016 or else?

Posted by CA Umesh Sharma 25 May 2016 11202 Views

Arjuna(Fictional Character): Krishna, by taking a holy bath in Kumbhmela, a person purifies himself. Now the Income Tax Departmen

Profession tax enrolment amnesty scheme, pay tax for 3 years instead of 8 years

Posted by CA Umesh Sharma 17 May 2016 9520 Views

Arjun (Fictional character): Krishna, Profession Tax is also paid by the self-employed person. The Sales Tax Department of Maharashtra has introduced Amnesty Scheme. So what is this scheme all about?Krishna (Fictional character): Arjuna, Profession T

New MVAT Dealers be in Discipline from First Year

Posted by CA Umesh Sharma 10 May 2016 8546 Views

Arjun (Fictional character): Krishna, Sales Tax Department has started new SAP system and has also been introducing various other changes. And now from 1st May 2016 onwards, changes are made in VAT reg

Small MVAT changes but a big effect on small dealers

Posted by CA Umesh Sharma 04 May 2016 11601 Views

Arjun (Fictional character): Krishna, this year from April 2016 onwards the Maharashtra Sales Tax Departments has brought various small amendments in the VAT system. Because of these changes the small dealers covered under the composition scheme have