CA Umesh Sharma

Corporate tax Dandiya between Corporates taxpayers, enjoy it!

Income Tax - inance Minister introduced amendments in Income Tax to boost economy. Corporate tax Dandiya ground is of Income Tax, the players are corporate taxpayers. The music is being played to boost economy. The Corporate tax Dandiya is for coporate tax payers only and no passes are given to non-corporate taxpayers i.e. it is not applicable to indi...

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Suvidha in Income Tax, Duvidha in GST

Income Tax - Seeing the changes made in Income Tax, same were expected in GST. But only law and procedure related changes were recommended. Also, GST rates related to supply of goods and services were proposed to change....

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How to check scrutiny risk in Tax Audit Report?

Income Tax - The due date of Income Tax Audit is 30th September, 2019 and all the taxpayers are busy finalizing their Income Tax Report. So, what the taxpayer should do in order to avoid scrutiny risk?...

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What are the most important new Reportings in ITR for AY 2019-20?

Income Tax - CBDT notifies new ITR’s and brings changes in the Income Tax Return and the and requires new information from the taxpayers. Like each year, this year also CBDT has brought about new reporting requirements in the Income Tax Returns....

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GST- Ganesha… Save Taxpayers

Income Tax - Arjuna, The month of September is the most important month for the Taxpayers. Taxpayers who are required to get their books of accounts audited for F.Y 18-19 are required to upload their Income Tax Audit Report till 30th September, 2019. While filing Income Tax Audit Report, taxpayers have to provide information of GST too. Also the month...

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Recent Posts in "CA Umesh Sharma"

Corporate tax Dandiya between Corporates taxpayers, enjoy it!

inance Minister introduced amendments in Income Tax to boost economy. Corporate tax Dandiya ground is of Income Tax, the players are corporate taxpayers. The music is being played to boost economy. The Corporate tax Dandiya is for coporate tax payers only and no passes are given to non-corporate taxpayers i.e. it is not applicable to indi...

Read More
Posted Under: Income Tax |

Suvidha in Income Tax, Duvidha in GST

Seeing the changes made in Income Tax, same were expected in GST. But only law and procedure related changes were recommended. Also, GST rates related to supply of goods and services were proposed to change....

Read More
Posted Under: Income Tax |

How to check scrutiny risk in Tax Audit Report?

The due date of Income Tax Audit is 30th September, 2019 and all the taxpayers are busy finalizing their Income Tax Report. So, what the taxpayer should do in order to avoid scrutiny risk?...

Read More
Posted Under: Income Tax |

What are the most important new Reportings in ITR for AY 2019-20?

CBDT notifies new ITR’s and brings changes in the Income Tax Return and the and requires new information from the taxpayers. Like each year, this year also CBDT has brought about new reporting requirements in the Income Tax Returns....

Read More
Posted Under: Income Tax |

GST- Ganesha… Save Taxpayers

Arjuna, The month of September is the most important month for the Taxpayers. Taxpayers who are required to get their books of accounts audited for F.Y 18-19 are required to upload their Income Tax Audit Report till 30th September, 2019. While filing Income Tax Audit Report, taxpayers have to provide information of GST too. Also the month...

Read More
Posted Under: Income Tax | ,

“Dahi Handi” of GST Annual Return and GST Audit

Arjun, for breaking the Dahi Handi taxpayers are required to overcome 10 difficulties i.e. 10 layer pyramid. These layers are as follows: To have a stable pyramid, a strong foundation is required. The biggest hurdle of forming this in GST is calculation of net liability through Annual return and Audit Report, as both the forms provides no...

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Posted Under: Income Tax | ,

How to resolve technical glitches while uploading GSTR-9C?

Arjuna (Fictional Character): Krishna, GST department has come out with statistics that only 1% of GST Audit Report for financial year 2017-18 has been filed. As the due date for filing such Audit report is approaching which is 31st August, 2019. Even Government is worried for such statistics of uploading. So, what are reasons for [&helli...

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Posted Under: Income Tax | ,

Rakshabandhan in GST- Matching of ITC

rjuna, Rakshbandhan is celebration of the purest form of brother and sister bond. On this day sister ties Rakhi to brother’s Wrist, in return of the promise of her safety. Similarly in GST matching and mismatching of purchase/sale bond needs to be done to ensure the promise to claim ITC between supplier (brother) and recipient (sister)....

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Posted Under: Income Tax | ,

GST mein kisiko nahi “Banana” – Don’t Charge incorrect GST

What do you mean by charging incorrect rate of GST? Charging incorrect rate of tax refers to short or excess collection of tax amount by the taxpayer other than the rate actually applicable....

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Posted Under: Income Tax |

53 Disclosures to be made in GST Audit Report

Draft Disclosures for GST Audit Report- The notes for GST Audit are  for guidance only. The GST auditor will have to make suitable observations, remarks, qualifications, etc. depending on the facts of the audit. AS THE GST LAW IS EVER CHANGING GSTR-9C and where to put reasons, comments, observations and qualifications and etc. Reasons fo...

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Posted Under: Income Tax | ,

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