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CA Umesh Sharma

Latest Articles


Best Ways to Use Your Tax Saving

Income Tax : Learn how to smartly allocate your tax savings in 2025—repay loans, invest in mutual funds, boost spending, or explore business ...

February 24, 2025 1428 Views 0 comment Print

2 Residential Houses: Income Tax issue simplified in budget 2025-26?

Income Tax : Budget 2025 has brought significant simplification in the tax treatment of house properties, particularly for self-occupied proper...

February 10, 2025 2280 Views 0 comment Print

Importance of Budget Preparation for Financial Discipline

Finance : Learn how preparing a budget—whether personal, business, or government—ensures financial stability and discipline in daily lif...

January 27, 2025 837 Views 0 comment Print

Important Changes in GST from 16th January 2025

Goods and Services Tax : The recent GST notifications introduce various changes aimed at streamlining compliance and addressing specific sectors. Let’s b...

January 20, 2025 41772 Views 0 comment Print

Gujarat High Court Judgment on GST on Leasehold Rights

Goods and Services Tax : Gujarat High Court rules that the assignment of leasehold rights is not subject to GST, providing relief to taxpayers by clarifyin...

January 14, 2025 2715 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 9105 Views 5 comments Print


Who’s Budget First? Personal or Union

February 23, 2015 1159 Views 0 comment Print

CA Umesh Sharma Arjuna (Fictional Character): Krishna, Honorable Finance Minister Mr. Arun Jetley will be declaring the Finance Budget of 2015-16 on 28th February in the Loksabha. Everyone is excited for the Budget. But Krishna, it is said that everyone must live within their own budget, why so? Krishna (Fictional Character): Arjuna, in simple language, […]

Cricket and Income Tax- what is similarity?

February 16, 2015 7619 Views 0 comment Print

Krishna, the 11th Cricket World Cup has been started in Australia. In these days 14 countries will compete against each other. In Cricket there is competition between two teams for winning. So please explain similarity between Cricket and Income tax in a sporty way that can be learnt with joy and in a playful manner.

Loveonomics and its taxation

February 8, 2015 9663 Views 0 comment Print

CA Umesh Sharma Arjuna (Fictional Character): Krishna, 7th February to 14th February is celebrated as Valentine Week all over the World. This is celebrated by giving gifts and wishes and for that the markets were ready. This market of love gifts is called as “Loveonomics”. Please explain the provisions of Income Tax regarding these Love […]

Second 'House'- Problematic in Real life as well as in Income Tax?

February 1, 2015 14109 Views 0 comment Print

Krishna, what are the Provisions in Income Tax Act, when a Taxpayer already owns a house and again Purchases another house i.e., ‘Second House’? Arjuna, listen carefully; otherwise having a second house may become a hardship. E.g. If the Taxpayer is having a House at Aurangabad and he purchases another Flat at Mumbai, then he has to show any one property as Self Occupied Property and has to pay taxes on second House.

Enjoy the “Tax Parade” On Republic Day…

January 25, 2015 2343 Views 0 comment Print

Krishna, on 26th January, India celebrates its Republic Day. On this Republic Day the President of the United States of America Mr. Barack Obama will be the guest of honour. On this day India’s unity and strength is demonstrated by the Army, Navy and Air Force in the grand Parade along with the exhibition of various diverse states of India.

MVAT Dealers, Have you checked New 'Dealer Information System'?

January 18, 2015 21127 Views 17 comments Print

Generally department issues notices of Mismatch for differences between sales and purchases after VAT Audit. Now from April 2014 onwards, filing of Annexure J1 and J2 along with return has been started. Therefore Mismatch Report is available online to the Dealers after filing return.

Kite Fight of VAT Dealer and Department

January 12, 2015 5850 Views 0 comment Print

Krishna, this Year Makar Sankranti is on 15th January and also the last date of submission of Maharashtra VAT Audit Report. There is Happiness everywhere because of Makar Sankrati. Many are busy in flying kites and buying gift (Vaan). Accordingly, how interesting Kite fight between department and VAT dealer?

Happy New Year!! But is it for the Taxpayers??

January 4, 2015 3388 Views 0 comment Print

Arjuna, In Income Tax Act there are two types of years i.e. Assessment Year and Previous Year. According to section 2(9) Assessment Year is 1st April to 31st March. According to Section 3, Previous Year means the year in which the Income is earned. Income earned in Previous Year is taxable according to tax rates of Assessment Year.

PK’s view on Indian Tax system. Enjoy it!

December 29, 2014 21425 Views 0 comment Print

Krishna, Aamir Khan’s recently released movie, PK, is in Limelight. Tell me, if this character ‘PK’ participates in a T.V. talk show on the topic of Taxation, what fun it will create? In this way we can spread awareness of taxation among people for following tax laws.

Modiji Appealed for 'Make in India' But NRIs worried about 'Tax in India'

December 8, 2014 11078 Views 0 comment Print

CA Umesh Sharma Arjuna (Fictional Character): Krishna, The tours across the world of Modiji after becoming the Prime Minister of India has become the topic of discussion for everyone. He invited Non Resident Indians to make financial investment in India through “Make in India” scheme. But who are these Non Resident Indians (NRI), what is […]

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