Basant Sharma & Associates

WELCOME TO Basant Sharma & Associates

Basant Sharma & Associates was established in the year 2005. It is a leading Tax Consultancy firm rendering comprehensive professional services which include audit, management consultancy, tax consultancy, accounting services, finance etc.

Basant Sharma & Associates is a professionally managed firm.We have experirnce of over 15+ years of experience in field of taxation with base of 1500+ clients .

We are committed to:Place the Interest of Clients before ours.

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Accounts News

23 Jan 25
Bombay HC Quashes Order Due to Improper Service of GST Notice U/S 37C(1)
CBDT Issues New Order to Address Challenges in the Vivad Se Vishwas Scheme 2024
22 Jan 25
CBDT Issues Key Clarification on Appeals Timeline for Vivad Se Vishwas Scheme 2024
Union Budget 2025: Industry Experts Seek Tax Incentives to Boost REITs and Green Buildings
Union Budget 2025: Key Expectations for India`s Insurance Sector
Allahabad HC Rejects GST Demand Order Due to Missing Oral Hearing Opportunity U/S 75 for Assessee
21 Jan 25
CBDT Issues Key Clarification on Appeals Timeline for Vivad Se Vishwas Scheme 2024
GST Notification No. 02/2025: Tax Exemption for Gene Therapy, a Vital Treatment for Life-Threatening Diseases
Ahmedabad ITAT: Misuse of Credit Cards by Friends Not Considered Personal Expenditure
Ahmedabad ITAT Cancels Assessment Due to Failure to Issue Tax Notice U/S 143(2) and Unjustified Additions
20 Jan 25
EV Industry Seeks GST Cut on Batteries & Infrastructure Status for Charging Stations in Upcoming Budget
Budget 2025: New Income Tax Law and Expectations
Budget 2025: Govt Plans to Phase Out Old Tax Regime
19 Jan 25
Income Tax Department Releases Updated Utility Excel-Based & JSON Schema for ITR-1 to ITR-7
Delhi HC: GST Cannot Be Levied on Fees Collected by CERC and DERC
18 Jan 25
AP HC Stays Notification Issued by ICAI on Removal of CA Accused of Creating Fake GST Invoices
Budget 2025: CREDAI Urges a 15% Income Tax Rate for Affordable Housing
West Bengal GST AAR: Catering Services for In-Patients Not Eligible for Tax Exemption
17 Jan 25
Kerala HC: Separate Notification Not Required for Cross-Empowerment of State GST Officials
Kolkata ITAT Rejects Appeal on Tax Penalty U/S 271(1)(c) as Withdrawn Under Govt Scheme
Bombay HC Accepts GST Officials’ Apology for Arresting Petitioner Before Recording Statement
Mankind Pharma Gets INR 2.27 Crore GST Penalty for Alleged Discrepancies
16 Jan 25
Net Direct Tax Collections Jump 15.88% to Rs 16.90 Lakh Crore in FY 2024-25
Taxpayers Must Withdraw Existing Appeals Before Applying for the GST Amnesty Scheme
AP HC: 5% GST Applies to the Supply of Solar Power Stations as a Composite Supply, Not a Works Contract
15 Jan 25
Tax Experts Call on the Govt to Make the GST IMS More User-Friendly
GST Dept Extends Draft Generation Timeline for Form GSTR-2B of December 2024
CBIC Revises Guidelines on GST Offences Through Instruction No. 01/2025
14 Jan 25
Upcoming Budget, Medical Device Industry Seeking Standard GST Rates, Export Incentives, and Price Regulation
CBIC Circular on Adjusting Total Turnover: Gujarat HC Remands Case for GST Refund Reconsideration
Pune ITAT Remands Case as AO Add Receipts of ?24,89,121 Instead of Net Income U/S 144
No Proper Opportunity Given to Assessee to Explain Additions, ITAT Sends Case Back to CIT(A)
13 Jan 25
Budget 2025: EV Industry Seeks GST Simplification and Incentives
Simplified Income-Tax Act Set to Launch in Budget 2025
12 Jan 25
GSTR-5, GSTR-6, GSTR-7 & GSTR-8 Filing Deadlines for Dec 2024 Extended
CAs and Businesses Face GST Portal Glitches as GSTR-1 Deadline Nears
No Proper Opportunity Given to Assessee to Explain Additions; ITAT Sends Case Back to CIT(A)
11 Jan 25
Delhi HC: Section 159 Applies Only if Reassessment Tax Notice Issued Before Assessee’s Death
GSTR-1 & GSTR-3B Filing Deadlines for Dec 2024 Extended
10 Jan 25
Gems, jewellery sector urges govt to reduce GST to 1% in upcoming Budget
Delhi HC: Section 153C of IT Act Requires AO’s Satisfaction, Not Tax Portal Uploads
IT Department Releases Common Offline Utility for Filing ITR 1 to ITR 4 for AY 2024-25
09 Jan 25
GST AAAR Clarifies Margin Scheme Applicability U/R 35(5) for Sale Used Batteries, Plastic Waste
Madras HC: Email Notice or Personal Delivery of GST Order Mandatory Before Publication on Portal or Newspaper
Implementation of mandatory mentioning of HSN codes in GSTR-1 & GSTR 1A
CBDT Notifies Exemption for IFSC Units from Section 206C(1H) Tax Collection Under Income-tax Act
Advisory Issued for Biometric Aadhaar Verification for GST Registration in Rajasthan
08 Jan 25
GST Portal Enables Taxpayers to File Rectification Applications for ITC Demand Orders u/s 73/74
Tax Notices May Target Unregistered Businesses in Gujarat for GST Evasion
Pre-Budget Consultations for Union Budget 2025-26 Conclude with Diverse Stakeholder Inputs
FICCI Urges Tax Reforms Ahead of Union Budget 2025-26 to Ease Tax Compliance

23 Jan 25

Bombay HC Quashes Order Due to Improper Service of GST Notice U/S 37C(1)

CBDT Issues New Order to Address Challenges in the Vivad Se Vishwas Scheme 2024

22 Jan 25

CBDT Issues Key Clarification on Appeals Timeline for Vivad Se Vishwas Scheme 2024

Union Budget 2025: Industry Experts Seek Tax Incentives to Boost REITs and Green Buildings

Union Budget 2025: Key Expectations for India`s Insurance Sector

Allahabad HC Rejects GST Demand Order Due to Missing Oral Hearing Opportunity U/S 75 for Assessee

21 Jan 25

CBDT Issues Key Clarification on Appeals Timeline for Vivad Se Vishwas Scheme 2024

GST Notification No. 02/2025: Tax Exemption for Gene Therapy, a Vital Treatment for Life-Threatening Diseases

Ahmedabad ITAT: Misuse of Credit Cards by Friends Not Considered Personal Expenditure

Ahmedabad ITAT Cancels Assessment Due to Failure to Issue Tax Notice U/S 143(2) and Unjustified Additions

20 Jan 25

EV Industry Seeks GST Cut on Batteries & Infrastructure Status for Charging Stations in Upcoming Budget

Budget 2025: New Income Tax Law and Expectations

Budget 2025: Govt Plans to Phase Out Old Tax Regime

19 Jan 25

Income Tax Department Releases Updated Utility Excel-Based & JSON Schema for ITR-1 to ITR-7

Delhi HC: GST Cannot Be Levied on Fees Collected by CERC and DERC

18 Jan 25

AP HC Stays Notification Issued by ICAI on Removal of CA Accused of Creating Fake GST Invoices

Budget 2025: CREDAI Urges a 15% Income Tax Rate for Affordable Housing

West Bengal GST AAR: Catering Services for In-Patients Not Eligible for Tax Exemption

17 Jan 25

Kerala HC: Separate Notification Not Required for Cross-Empowerment of State GST Officials

Kolkata ITAT Rejects Appeal on Tax Penalty U/S 271(1)(c) as Withdrawn Under Govt Scheme

Bombay HC Accepts GST Officials’ Apology for Arresting Petitioner Before Recording Statement

Mankind Pharma Gets INR 2.27 Crore GST Penalty for Alleged Discrepancies

16 Jan 25

Net Direct Tax Collections Jump 15.88% to Rs 16.90 Lakh Crore in FY 2024-25

Taxpayers Must Withdraw Existing Appeals Before Applying for the GST Amnesty Scheme

AP HC: 5% GST Applies to the Supply of Solar Power Stations as a Composite Supply, Not a Works Contract

15 Jan 25

Tax Experts Call on the Govt to Make the GST IMS More User-Friendly

GST Dept Extends Draft Generation Timeline for Form GSTR-2B of December 2024

CBIC Revises Guidelines on GST Offences Through Instruction No. 01/2025

14 Jan 25

Upcoming Budget, Medical Device Industry Seeking Standard GST Rates, Export Incentives, and Price Regulation

CBIC Circular on Adjusting Total Turnover: Gujarat HC Remands Case for GST Refund Reconsideration

Pune ITAT Remands Case as AO Add Receipts of ?24,89,121 Instead of Net Income U/S 144

No Proper Opportunity Given to Assessee to Explain Additions, ITAT Sends Case Back to CIT(A)

13 Jan 25

Budget 2025: EV Industry Seeks GST Simplification and Incentives

Simplified Income-Tax Act Set to Launch in Budget 2025

12 Jan 25

GSTR-5, GSTR-6, GSTR-7 & GSTR-8 Filing Deadlines for Dec 2024 Extended

CAs and Businesses Face GST Portal Glitches as GSTR-1 Deadline Nears

No Proper Opportunity Given to Assessee to Explain Additions; ITAT Sends Case Back to CIT(A)

11 Jan 25

Delhi HC: Section 159 Applies Only if Reassessment Tax Notice Issued Before Assessee’s Death

GSTR-1 & GSTR-3B Filing Deadlines for Dec 2024 Extended

10 Jan 25

Gems, jewellery sector urges govt to reduce GST to 1% in upcoming Budget

Delhi HC: Section 153C of IT Act Requires AO’s Satisfaction, Not Tax Portal Uploads

IT Department Releases Common Offline Utility for Filing ITR 1 to ITR 4 for AY 2024-25

09 Jan 25

GST AAAR Clarifies Margin Scheme Applicability U/R 35(5) for Sale Used Batteries, Plastic Waste

Madras HC: Email Notice or Personal Delivery of GST Order Mandatory Before Publication on Portal or Newspaper

Implementation of mandatory mentioning of HSN codes in GSTR-1 & GSTR 1A

CBDT Notifies Exemption for IFSC Units from Section 206C(1H) Tax Collection Under Income-tax Act

Advisory Issued for Biometric Aadhaar Verification for GST Registration in Rajasthan

08 Jan 25

GST Portal Enables Taxpayers to File Rectification Applications for ITC Demand Orders u/s 73/74

Tax Notices May Target Unregistered Businesses in Gujarat for GST Evasion

Pre-Budget Consultations for Union Budget 2025-26 Conclude with Diverse Stakeholder Inputs

FICCI Urges Tax Reforms Ahead of Union Budget 2025-26 to Ease Tax Compliance

Due Date Reminder

Jan	Feb	Mar	Apr	May	June
July	Aug	Sep	Oct	Nov	Dec
All

24 Jan 25 Summary Return of December quarter by Quarterly filers in Himachal Pradesh, Punjab, Uttarakhand, Haryana, Rajasthan, Uttar Pradesh, Bihar, Sikkim, Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal, Jharkhand or Odisha,

28 Jan 25 Return by persons with Unique Identification Number (UIN) like embassies etc to get refund under GST for goods and services purchased by them, for December .

30 Jan 25 Issue of TCS certificate for December quarter by All Collectors

30 Jan 25 Deposit of TDS u/s 194-IA on payment made for purchase of property in December.

30 Jan 25 Deposit of TDS u/s 194-IB @ 5% on total payment of Rent more than 50,000 pm by individual or HUF (not liable to tax audit) during FY 24-25, where lease has terminated in December (Else TDS is to be deposited on annual basis by 30 April of next year.)

30 Jan 25 Deposit of TDS on certain payments made by individual/HUF u/s 194M for December.

30 Jan 25 Deposit of TDS on transfer of virtual digital asset u/s 194S, by an exchange, for December.

31 Jan 25 TDS Statements for December quarter.

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