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CA Umesh Sharma

Latest Articles


Understanding New IMS (Invoice Management System) on GST Portal

Goods and Services Tax : Arjuna: Krishna, I heard there’s a new Invoice Management System (IMS) on the GST portal. What’s it all about? It sounds compl...

November 18, 2024 17463 Views 1 comment Print

Revamp of Income Tax Act 1961: Key Updates for Taxpayers

Income Tax : Learn about the planned overhaul of India’s Income Tax Act 1961, set to simplify and modernize tax laws by 2025, aiming for clar...

November 11, 2024 2919 Views 0 comment Print

This Diwali, Celebrate with GST Firecrackers!

Goods and Services Tax : Explore the latest GST updates this Diwali, including amnesty schemes, new provisions, and compliance measures to help taxpayers c...

October 28, 2024 2418 Views 1 comment Print

Cleaning of Books of Accounts & their Worship on the occasion of Diwali

Income Tax : Learn how to clean and worship your Books of Accounts on Diwali. Discover the provisions under various tax laws for discarding old...

October 22, 2024 12367 Views 0 comment Print

What is the Direct Tax Vivad Se Vishwas Scheme, 2024?

Income Tax : Learn about the Direct Tax Vivad Se Vishwas Scheme 2024, allowing taxpayers to resolve disputes by paying reduced amounts. Key det...

September 23, 2024 2604 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 9000 Views 5 comments Print


Nine GST Recommendations Aligned with Spirit of Navratri: A Taxation Journey

October 11, 2023 1050 Views 0 comment Print

Discover how 9 key GST recommendations from GST Council align with diverse facets of Navratri, offering insights into a more efficient and transparent tax system. Embrace change and adapt to these tax recommendations.

How Tax Audits Ease Business Journeys & helps as ‘Vighna-harta!

September 18, 2023 843 Views 0 comment Print

Discover the parallels between Ganesh Chaturthi and income tax audits. Learn how audits remove uncertainties, boost financial transparency, and pave the way for success.

Beware of Cash Transaction under Income Tax Act

September 11, 2023 7287 Views 0 comment Print

Discover the legal constraints around cash transactions under India’s Income Tax Act. Learn about the various sections that impose limits and penalties on cash dealings.

Mera Bill Mera Adhikar Scheme: GST Lottery Rewards for Taxpayers

September 4, 2023 22323 Views 0 comment Print

Discover Mera Bill Mera Adhikar scheme, a GST lottery for taxpayers, rewarding those who demand GST invoices. Learn how to participate and benefit from this initiative.

10 Key Points for Agriculture Income Tax: Guidelines & Exemptions

August 21, 2023 3912 Views 0 comment Print

Understand agriculture income tax rules. Learn about exemptions, deductions, documents required, and taxation on agricultural earnings.

Incomes which are now reported in AIS for Individuals

June 5, 2023 1227 Views 0 comment Print

Article explains various types of income that are disclosed under Annual Information Statement (AIS) as instructed by Income Tax Department

What MSME should do for recovery of their Delayed Payments?

May 8, 2023 9000 Views 5 comments Print

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’s a ton of stress. Is there any help available from government to MSME’s ?

Companies need to file MSME payment data before 30/04/2023

April 24, 2023 4749 Views 0 comment Print

Every year, all company taxpayers need to file form MSME-1 by a notification dated 2nd November, 2018 but it holds a huge significance this year as the payments would be disallowed by the Income Act authorities if payment is not made within 45 days.

Important Things from Income Tax Aspect to Consider this March ending!

March 21, 2023 7806 Views 0 comment Print

Financial year 2022-23 is about to end, & new financial year is about to start. How should a taxpayer prepare himself for this year’s march ending?

Relief to Small and Medium Taxpayers in Maharashtra State Budget 2023-24

March 21, 2023 4248 Views 0 comment Print

Government has introduced a scheme to solve disputes between Maharashtra government and taxpayers. Amnesty Scheme will be called as ‘Maharashtra Settlement of Arrears of Tax, Interest, Penalty or Late Fee Act, 2023’.

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