"Abhishek Ranjan Singh is the Managing Director and Founder of ARS Solutions, a professional firm specializing in taxation, GST compliance, financial services, and regulatory consultancy. He is a Certified and Authorized Tax Return Preparer (TRP) recognized by the Income Tax Department, Government of India, and a Registered GST Practitioner (GSTP) under the Goods and Services Tax framework. He is also a NISM Series V-A qualified Mutual Fund Advisor, an ARN holder registered with the Association of Mutual Funds in India (AMFI), and facilitates investments across almost all major mutual fund houses in India. With extensive experience in income tax, GST, mutual fund investments, and financial planning, he assists individuals, professionals, and businesses in achieving their financial and compliance goals. Additionally, he serves as an ECRP (Electoral Registration and Participation) Volunteer associated with the Election Commission of India, contributing to voter awareness and democratic participation initiatives."
RBI cut its repo rate to 5.50% and CRR to 3% on June 6, 2025, aiming to increase liquidity and lower loan costs. See the market reaction and economic impact.
Budget 2025 introduces no income tax on earnings up to ₹12 lakhs under the new regime, offering significant relief. Learn about tax slabs, Section 87A, and benefits.
Understand the PAN and Aadhaar number linking process as mandated by the CBDT circular. Explore the consequences of non-compliance, learn about the fee structure, and access useful links for checking and updating your PAN-Aadhaar status. Ensure seamless financial transactions and avoid penalties by linking your Aadhaar with PAN before the deadline.
The Union budget 2023 presented in the Parliament today on 1st February 2023, the Finance Minister proposed five major announcements for tax payers: 1. Nil tax, upto income Rs. 7 Lakhs (After Rebate U/S 87A) 2. Six Income slabs and new tax rates 3. Standard Deduction Rs. 52,500/- for salaried person with an income of […]
Missed the income tax return filing deadline? Dont worry, you can still file your return for FY 2021-22 (AY 2022-23) by 31st December 2022.
Income tax department has started sending notices (Compliance Query) to non-filers for the assessment year 2013-14 & onwards & are also using the said information to verify under-reporting of income. The income tax department has been capturing information on financial transactions /activities relating to you through Non-filers Monitoring System (NMS). This year NMS has identified 44.07 lakh non-filers (Cycle 3 -2015) with potential tax liabilities for AY 2013-14.
New Income Tax Regime or Old Regime: What should a Salaried Taxpayer choose? The Union budget presented in the Parliament in February 2020, the Finance Minister proposed a New Tax Regime as an alternative to the existing Old Tax Regime for Individual and HUFs. Since the New Tax Regime is optional by all means, a […]
Understanding of Notice, Penalty, Late fees and Interest on TDS for Purchase of Immovable Property- As per Finance Act of 2013, TDS is applicable on transfer of Immovable property, wherein the consideration of the property exceeds or is equal to ₹ 50 Lakhs. Sec 194 IA of the Income Tax Act, 1961 read with Rule 30, 31 and 31A of Income Tax Rules states that:
Baseless rumours are being spread to create panic among the citizens and to fail the Demonetisation scheme of Central Government.
I am talking about the reports and memes which say that you will have to pay almost 95% tax on the old cash you deposit in banks. Some in social media even interpreted that the 200% penalty is on the income, thus you need to pay more than your income.
