Sharma & Associates

19/07/2025

GST payment via UPI

11/07/2025

ITR 2 And ITR 3 Now available for FY 2024-25

02/07/2025

CII for FY 25-26 notified

07/03/2025

Tax Saving Guide FY-2024-25
Credits:Fintaxpro

15/02/2025

*GST Update*
New Advisory: Introduction of Form ENR-03 for Unregistered Dealers on E-Way Bill Portal.

The GST Network (GSTN) has introduced Form ENR-03 to facilitate the enrolment of unregistered dealers for generating e-Way Bills, effective from February 11, 2025.

13/02/2025

*GST Update*- Regarsing New GST Registration

13/02/2025

Celebrating National Women's Day on the birth anniversary of Sarojini Naidu, Nightingale of India.

12/02/2025

A long-standing confusion regarding Presumptive Taxation (Section 44AD & 44ADA) has finally been resolved in the New Income Tax Bill 2025! Earlier, there was uncertainty about whether taxpayers had to declare actual profit or the prescribed 6%/8% profit under the presumptive taxation scheme.

🔹 What’s the clarification?
Under the new provisions, taxpayers must declare 6% or 8% of turnover (as applicable) OR actual profit, whichever is higher.

🔹 Why is this important?
✅ It removes ambiguity on whether actual profits need to be disclosed if they exceed the deemed profit.
✅ Ensures a simplified yet fair approach—taxpayers cannot show lower profits just to take advantage of the presumptive scheme.
✅ Reduces unnecessary debates and tax litigation over profit disclosures.

This provision makes it clear that while presumptive taxation simplifies compliance, it cannot be used to underreport profits if actual earnings are higher. A significant step towards a more transparent and streamlined taxation.

Credits- Team FinTaxPro

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12/02/2025

Guru Ravidas Jayanti ki Hardik Shubhkamnaye

12/02/2025

Direct Tax Cllection for F.Y. 2024-25 as on 10.02.2025