Sharma LAW Chambers

Sharma LAW Chambers Practising at all Courts of India

For Appointments : https://topmate.io/Adv_sunilsharma/ Adv.

Ex-Auditor (9 yrs) turned Advocate in Corporate Law, Insolvency, DRT, Taxation, Criminal, Cyber Crime, Family, Arbitration, Trademarks, Patents & Competition Law. Sunil Sharma (SK) - I started my career as an Auditor, and over time, my passion for problem-solving and justice led me to the world of law. Today, I bring together my background in financial auditing with my practice as an Advocate, hel

ping clients navigate complex matters in Corporate Law, Arbitration, Competition Law, Criminal Law, GST, Customs, and Income Tax litigation. I work with law firms and clients directly whether it’s drafting, filing, or arguing cases. My goal is simple: to make the law more accessible, practical, and client focused. I’ve had the privilege of representing clients before the Civil & Sessions Court (Coimbatore District), the Madras High Court, and the Rajasthan High Court.

🌐 Areas I Work In

1.Financial & Tax Matters – Taxation disputes, SEBI & SAT appeals, ITAT, PMLA cases
2.Business Law – Corporate disputes, contracts, competition law, arbitration, winding-up petitions
3.Criminal Law – From bail to cybercrime, cheque bounce to serious offences
4.Family Law – Divorce, alimony, custody, domestic violence, Muslim law
5.Property Law – Partition, wills, sale deeds, builder disputes, SARFAESI
6.Civil, Service & Administrative Law – Legal notices, defamation, banking/loan issues, AFT cases
7.Consumer Law – Forums, consumer rights, and protection matters

💡 My Approach

I believe in linking financial insight with strong legal advocacy. Every client deserves not just legal representation, but also clarity, integrity, and solutions that work in real life. With offices in Sikar, Jaipur, Coimbatore, and Chennai, I’m able to support clients across India and build meaningful professional collaborations along the way.

📩 Let’s connect whether you’re looking for legal guidance or exploring partnerships:
[email protected] or for Direct appointments https://topmate.io/adv_sunilsharma/

Section 43B(h) – Clearing the confusion 🚦Ever since the amendment, we’ve seen one big question everywhere: 👉 Does Sectio...
03/09/2025

Section 43B(h) – Clearing the confusion 🚦

Ever since the amendment, we’ve seen one big question everywhere:

👉 Does Section 43B(h) apply to trader-to-trader transactions?
The short answer: No.

This rule is meant to safeguard Micro & Small Enterprises (MSEs) who are manufacturers or service providers under the MSME Act, 2006. Traders don’t fall in that category.

So:
✅ Pay MSE manufacturers and service providers on time (within MSME timelines).
❌ No impact on pure trading transactions.

Do you think this clarification will finally settle the debate, or will businesses still face grey areas in compliance?

ITAT Bangalore! A victory worth Rs 8.36 Crore in a tax dispute over a gifted land sale. The ITAT ruling marks a mileston...
30/08/2025

ITAT Bangalore! A victory worth Rs 8.36 Crore in a tax dispute over a gifted land sale. The ITAT ruling marks a milestone in tax law, emphasizing capital gains and tax exemptions. This legal ruling sheds light on Section 64, highlighting the nuances of tax planning in India. A noteworthy case on gifted property, unravelling key aspects of India's tax laws.





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A few things which make you avoid litigation!
17/08/2025

A few things which make you avoid litigation!

Income Tax due dates for FY 23-24 is extended to 15-01-2025 !Bombay High court order taken seriously., 😳
31/12/2024

Income Tax due dates for FY 23-24 is extended to 15-01-2025 !

Bombay High court order taken seriously., 😳

55th GST Council Meeting - Analysis
23/12/2024

55th GST Council Meeting - Analysis

Applicability of section 43b(h) of Income tax Act.Read with section 8,7 and section 2(e) of the MSME act it is applicabl...
03/02/2024

Applicability of section 43b(h) of Income tax Act.

Read with section 8,7 and section 2(e) of the MSME act it is applicable only for those who are registered as Enterprises as Manufactures and Services providers.

Hence for Traders it's not applicable.

22/01/2024

Important Update for GST/Income Tax as applicable from 01-04-2024 ( FY 23-24 ; AY 24-25) ; A new Section 43B(h) in Income Tax Act is inserted which explains;

Any Payments made to supplier falling under “MICRO” and “SMALL” enterprises registered under MSMED Act, 2006 will be allowed as deduction in Income tax only on Actual payment or payment within due date of Section 15 of the MSMED Act.

So, following points to be kept in mind: -

1) Payment to suppliers / creditors falling in the category of "MICRO" or "SMALL '' have to be done within 15 days / 45 days of Invoice. If there is no written term of payment then it is 15 days, and if there is a written term of payment then payment has to be done in a maximum of 45 days.

2) So, if payments to such suppliers / creditors falling in "MICRO" or "SMALL" category are not made within 15 / 45 days of Invoice then it will be ALLOWED on Payment basis Under Income Tax Act and will be added as Income till the payment is not made.

3) For Eg. For Invoice of Rs. 1,00,000/- raised on 10th April, 2024 payment to be made before 26th May 2024 (considering 45 days terms), then it would be treated as normal transaction and in case it is not paid until 16-04-2024 ( Considering 15 days where there are no payment terms mentioned) then the corresponding amount which is to be paid to the buyer would become an Income to you- under the Income Tax Calculations for that FY if not paid and will not be considered as Expenses. Hence , attracting more tax liability under Income tax also.

4) And at the year end please note that there are NO invoices dated 15th February 2024 or Before of MICRO and SMALL Creditors that should not be pending for payment on 31st MARCH 2024.

5) For Invoices after 15th February 2024 (which are Outstanding on 31st March 2024) payment has to be made before 45 days / 15 days from date of Invoice. For Eg. Invoice of 18th February 2024 should be paid by 03rd April 2024. If paid after 03rd April 2025 then it will also be disallowed as mentioned in Sr. No. 3 above.

So kindly do following : -

1) Ask for Udhyam Registration certificate from your Suppliers (Creditors) in writing or through e-Mail. Keep a Printed record of said communication.

2) Identify your suppliers (Creditors) of Goods / Services as “MICRO” or “SMALL” by taking details of their Udyam Registration in which their category is mentioned and create a separate Schedule in Trial Balance for them.

3) Make sure that time period of 15 days / 45 days is followed for payment for these creditors

4) This has a huge impact on working capital management. So, kindly plan in advance for the same.

5) If you are eligible for "MICRO" and "SMALL" enterprise, kindly get yourself registered and mention your Udyam Registration with Category on your Invoice itself as you use can MSME Samadhan option for Payment recovery if any and avoid Litigation cost.

6) A draft Document is attached for you, that you can ask your supplier to fill and give in their letter head ( Details marked in yellow in that document also should be changed with your company details) along with the MSME registration Certificate copy should be asked.

https://sunilsharmaco-my.sharepoint.com/:f:/g/personal/auditor_sunilsharmaco_onmicrosoft_com/EqKFylhlZ8FKqbY6LRPH0lcBHtWxYS7_Vv3dM8g_nkb5dw?e=9UQyBx

For any further Understanding / Queries, please contact at office - 0422-4365596

Sunil Sharma & Co
Auditors / Corporate Lawyers

Address

3rd Floor , Gurunanak Complex , Grey Town , Drive Nanjappa Road
Coimbatore
641018

Opening Hours

Monday 9am - 5pm
Tuesday 9am - 5pm
Wednesday 9am - 5pm
Thursday 9am - 5pm
Friday 9am - 5pm
Saturday 9am - 5pm

Telephone

+914224365596

Website

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