About CA Vimal Kumar Sharma

CA Vimal Kumar Sharma has expertise is in the field of Accounting, Budgeting, Management Reporting, Statutory Reporting, Regulatory Compliance, Working Capital Management, Taxation, Statutory and Tax Audit and posses experience of almost 5 years.

The introduction of the Depository system in India was to achieve paperless trading in the stock market. The foremost step is to open a Demat account which is short for a dematerialization account. The processes of holding investments like mutual funds, shares, bonds, government securities, etc. There is no difficulty in maintaining physical documents. In…

Term Insurance Plans were introduced with a very basic structure — the plan will offer a sum assured on the death of the policyholder, provide coverage up to the age of 65, and the premium can only be paid on an annual basis. However, it became more complicated when more and more insurers started offering…

The Central Board of Indirect Taxes and Customs (CBIC) has made it mandatory to generate and quote a DIN on any communication issued by CBIC officials to taxpayers and other concerned persons from 8 November 2019 vide Circular No. 122/41/ 2019. Issuance of certain communications without a DIN is permitted under certain specific circumstances, however…

As an Indian taxpayer, you always understand that you have to pay 20-25% tax on your income but we need to know that for salaried employees also some expenses allow deductions and exemptions, and allowances. If you find suitable financial instruments, you can reduce the income tax payable to employees. For the very first time…

GST Investigation Wing issued Instruction No. 01/2022-23[GST-INV] dated 25 May 2022 on deposit of tax during the inspection, inspection, or investigation. This was issued in light of complaints and allegations of coercion by GST officials during the search for tax refunds. Table of content Short Glimpse Inspection and Search under GST Who can order search…

Every GST Registered Taxpayer is required to file GST Returns on time and accurately. Otherwise, concealing transactions, providing false information, or making small mistakes may result in GST Returns being scrutinised. Scrutiny Notice will also have a significant influence on your business. As a result, if you get a Scrutiny of GST Returns Notice, you…

When it comes to banking knowledge or the general awareness component of bank examinations, the basics of banking are crucial. Banking fundamentals are also vital for future banking and finance professionals. For its customer base, the banking business handles credit, currency, and several other sorts of financial transactions. Table of Content Key Abstract Banking Fundamentals:…

The e-invoicing system is now applicable to more businesses through CBIC Notification CGST 01/2022 dated 24 February 2022. Indian businesses with an annual aggregate turnover of more than Rs 20 crore to Rs 50 crore as calculated in any previous financial year from 2017 onwards -18 to 2021-22, must start generating e-invoices from April 1,…

Understanding the taxation of goods and services include knowing that the goods or service is free to register with GST. Knowing this, applicants can find clarity on a few other things. The GST release threshold for businesses depends on their combined annual revenue. Previously, businesses with an annual turnover of Rs.20 lakhs did not need…

The presumptive scheme under income tax is a popular scheme used by businesses and professionals. This system essentially reduces the burden of income tax compliance on micro and small businesses and professionals. The envisaged scheme for specific professionals was introduced in 2016. Presumptive Scheme allows taxpayers to presumptive their income as a certain % of…

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