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CA Umesh Sharma

Latest Articles


Who Should File ITR even when Income is Below Tax Exemption Limit?

Income Tax : Discover who must file an ITR even with income below the exemption limit. Understand key scenarios and benefits to stay compliant ...

July 15, 2024 2403 Views 0 comment Print

Share Market at Record High, But my Portfolio is not ! Why !?

Finance : Understand why your portfolio may not be reflecting record highs in the share market. Learn strategies to navigate market highs an...

July 8, 2024 975 Views 0 comment Print

Most Popular Recommendations from 53rd GST Council Meeting!!

Goods and Services Tax : Discover the key recommendations from the 53rd GST Council Meeting held on June 22, 2024, including waiver of interest & penalties...

June 24, 2024 993 Views 0 comment Print

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

Income Tax : Prepare for the Income Tax Season amidst the rainy season with these essential tips. Ensure timely filing and accuracy in your ITR...

June 17, 2024 711 Views 0 comment Print

Investment Opportunities after Lok Sabha Elections !!

Finance : Explore investment opportunities post Lok Sabha elections. Key sectors like economy, infrastructure, railways, and more are promis...

June 11, 2024 1074 Views 0 comment Print


Latest Judiciary


What MSME should do for recovery of their Delayed Payments?

Corporate Law : Right now, MSME’s are in a bind, there are lot of suppliers who are not paying MSME’s their dues on time and it's causing MSME...

May 8, 2023 8853 Views 5 comments Print


Parade of people depositing cash above Rs. 10 Lakhs

January 22, 2017 40564 Views 15 comments Print

CA Umesh Sharma Arjuna (Fictional Character): Krishna, 26th January i.e. our Republic Day is coming closer. On this day, the unity and the strength of our country is represented through parade by our army, navy and by air force. There is parade exhibiting the cultures and specialties of various states. After demonetization, the government has […]

Fly Patang of Maharashtra VAT Audit before 9th February 2017

January 15, 2017 4501 Views 2 comments Print

The Sales tax department extended the date of filing of VAT Audit report. If we compare VAT and kite flying then person who is flying kite is Trader, Kite is VAT Return, Chakri means books of accounts or Audit report,

Old MVAT returns ki “Patang” ko late fees ki “Dheel”

January 9, 2017 4420 Views 0 comment Print

Even government is trying to fly the kite of GST. But before that the Maharashtra Sales tax department has brought circular for flying kite of old not submitted VAT returns. What ease (Dhil) is given in filing these old returns?

Saal Do Hazar “Satra” main Tax Evaders ko “Khatra”

January 1, 2017 5794 Views 0 comment Print

After demonetization income tax raid at many places, issues in banks came to notice. Further a big change in the indirect tax laws i.e. GST is coming. So there were big changes are likely to come in the year 2017 in the financial world.

Christmas gift – 6% Profit on Trading through bank

December 26, 2016 15214 Views 6 comments Print

Govt is promoting small traders to do their trading through bank accounts due to cash shortage. Govt given option to these traders under section 44AD to pay 6% tax on total turnover made through bank accounts.

“Garib” Kalyan Yojna, for “Kalyan” of Rich or Poor?

December 18, 2016 6721 Views 1 comment Print

Government has brought up with a scheme to convert 50:50% of the black money into white money which will be applicable from 17th December 2016, what is it? And what is the aim of this scheme?

Post Demonetization: Increase turnover decrease tension in Income Tax

December 11, 2016 11149 Views 0 comment Print

Central government is taking various initiatives to reduce transactions in cash thereby increasing transactions through banks. So in F.Y. 2016-17 what will be effect of all this and on income tax provisions?

Pradhan Mantri Garib Kalyan Yojna- A Yojna for Rich?

December 5, 2016 14086 Views 2 comments Print

Krishna, Government has taken a huge step for taking out black money from rich people by banning notes of Rs 500 and Rs1000, after that they have brought a new scheme. What is that?

GST movie coming soon!!! But Advance booking started

November 27, 2016 3286 Views 2 comments Print

GST provisional registrations has now started. The work of GST has come to a standstill in parliament due to discussion about old notes. Then why did GST provisional registrations get started now. For whom is it and how is it to be done?

Cash in hand as on 8th November – An Asset or Liability?

November 20, 2016 32899 Views 9 comments Print

Presently everybody is discussing about the government’s decision of demonetization and its effect. The decision has made people confused as to whether their Rs.500 and Rs.1000 notes are an asset or liability.

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