Articles by CA Anoop Kumar Sharma

ITR Forms: A Comprehensive Overview

CA Anoop Kumar Sharma 03 June 2024 at 15:40

There are notified 7 types of ITRs, i.e., ITR-1, ITR-2, ITR-3, ITR-4, ITR-5, ITR-6, and ITR-7. To date, we have discussed all ITRs one by one and compiled all the details regarding them in this article.

Responding to ITC Alerts: Rule 88D

CA Anoop Kumar Sharma 30 May 2024 at 14:00

After notification No. S.No.851 [No.38/2023-Central Tax] Dated August 4, 2023, CGST Rule 88D was amended and a mechanism was outlined for system-based notification in the cases where the excess ITC claimed in GSTR-3B was compared to that shown in GSTR-2B.

New Portal Launches for E-Way Bill

CA Anoop Kumar Sharma 29 May 2024 at 08:47

GSTN is pleased to announce the launch of the E-Way Bill 2 Portal by NIC on June 1, 2024, through an issue advisory dated May 28, 2024.

Political Party Taxation

CA Anoop Kumar Sharma 28 May 2024 at 12:19

Let's break down the rules for how political parties are taxed by CG. Basically, if a political party meets four specific conditions, all income earned is tax-free income.

GST Audit: A Comprehensive Overview

CA Anoop Kumar Sharma 25 May 2024 at 14:16

In this article we discuss a comprehensive overview that delves into the initiation, timeline, and methodology of GST audits, shedding light on practical considerations.

Mastering in Advance Tax

CA Anoop Kumar Sharma 21 May 2024 at 08:45

In this article, we tried to explore and discuss various aspects of advance tax in India like what it is, when it applies, and how to calculate with examples and pay it timely to avoid any unnecessary interest or penalties.

Transactions Reporting under SFT

CA Anoop Kumar Sharma 16 May 2024 at 08:38

SFT is a mechanism for monitor high-value transactions conducted by Assessee/customer; a significant regulatory measure was introduced with the inception of Form 61A under Section 285BA, effective from April 1, 2004, as per Notification No. 182/2005 dated July 11, 2005.

Savings Habit: Makes a Good Life

CA Anoop Kumar Sharma 08 May 2024 at 13:31

After the end of the financial year and the start of a new financial year, it's good to try to save more money. Saving is basically when we keep some of the money we earn instead of spending it all right away.

TDS: A Bird's-Eye Summary

CA Anoop Kumar Sharma 01 May 2024 at 14:45

In this article, we try to explore the TDS rate and provision in summary mode.

GST Advisory on Re-filing GSTR-3B

CA Anoop Kumar Sharma 12 April 2024 at 17:08

The Goods and Services Tax (GST) Department has recently sent out an advisory to specific GST taxpayers about the first chance given to correct errors in their previously filed GSTR-3B forms. This facility was provided due to discrepancies found between the data stored in the GST system and the data that was actually submitted regarding ITC claims, tax payments, etc.