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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 1662 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 885 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 945 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 699 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 1035 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 8781 Views 5 comments Print


For MVAT Taxpayers No “Raksha” Only “Bandhan”

August 11, 2014 2513 Views 0 comment Print

Arjuna, Raksha Bandhan means expressing love, strengthening relations between brothers and sisters. Elder should save the younger. But Sales Tax department has done opposite of this. The department instead of saving the dealer who follows the VAT laws brought Bandhan for the year 2011-12.

Why ‘Package Scheme of Incentives 2013’ Beneficial For Setting Up Industrial Unit in Maharashtra

August 4, 2014 13794 Views 6 comments Print

Presently on the setting up of a new industrial unit or expansion of the existing unit in Maharashtra, state government provides subsidy through The Package Scheme of Incentives 2013 (PSI 2013) on fulfillment of the terms and conditions of the scheme.

Be Alert! Border Check Post by Sales Tax Department of Maharashtra is here

July 22, 2014 22610 Views 26 comments Print

In Maharashtra 32 New Check Post have been constructed, it means that on Maharashtra border every Inward and Outward movement of goods will be examined. Will it increase difficulties & problems of business people? Kindly give us brief information and reasons behind introduction of Check Post.

Karniti on Union Budget 2014

July 13, 2014 2029 Views 0 comment Print

If TDS is not paid then expenses of 30% will be disallowed instead of 100%: if TDS on expenses like, commission, interest, rent etc. is not deposited with the government in a F.Y. then it was allowed in year of payments.

Why one who pays tax only suffers?

July 8, 2014 4036 Views 25 comments Print

Arjuna, Govt. collects taxes and utilizes it for citizen’s security, development, growth, etc. See, like in sports, one wins while other loses similarly in life one’s grief is others reason for happiness. In same way, an expense of one is an Income of other, and hence disparity between Government and Taxpayers will always remain.

Changes in Income Tax Return (ITR) A.Y. 2014-15

June 29, 2014 13121 Views 0 comment Print

CA Umesh Sharma Karniti: Taxpayers please note recent changes in Income Tax Return Keeping conversation between Lord Krishna and Arjuna as the foundation, we will learn certain basic financial and tax matter in KARNITI series of articles. Let us try to get answers to our questions in a bit different and joyful manner. The character […]

Be Alert! Companies watch out provisions of loans & deposits or else repay it!

June 25, 2014 5745 Views 0 comment Print

Krishna, many companies are worried, as they will have to submit new return about deposits and loans before 30th June 2014, as stated in New Companies Act 2013. It is said that there are very strict provisions and rules in new companies act.

Maharashtra Budget: Relief in MVAT up to Rs. 10 Lakh but No relief for refund & LBT

June 21, 2014 11225 Views 0 comment Print

Arjuna (Fictional Character): Krishna, on 5th June 2014, Deputy Chief Minister and Finance Minister of Maharashtra State presented the finance budget for the year 2014-15. Taxpayers had many expectations from the budget due to all round changes and upcoming elections.

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